Wednesday, 16 December 2015

Closing Brief

US equities closed broadly higher, sp +29pts @ 2073. The two leaders - Trans/R2K, settled higher by 1.8% and 1.5% respectively. Near term outlook is bullish, first target is the 2080/85 resistance zone, then the 2100 threshold... with the May high of 2134 still in range before year end.



*closing hour action: naturally.. a little choppy.. but favouring the equity bulls.

It was a rather remakable day in market land. Not because rates were finally raised, but because all aspects of the US capital markets were so very stable.

For those looking for a QUAD-OPEX market crash.. well.... err... no. That was always 'crazy talk'.... almost as much as those suggesting rates would not... and could NEVER be raised again.

A third consecutive day for the equity bulls... and now its a case of whether new historic highs (in the headline indexes - Dow, sp'500, Nasdaq) are achieved... or whether we see a major fail.

Right now.. it ain't looking good for those resolutely holding short.

more later... on the VIX