Tuesday, 22 December 2015

Closing Brief

US equity indexes closed broadly higher for the second consecutive day, sp +17pts @ 2038. The two leaders - Trans/R2K, settled higher by 1.5% and 0.9% respectively. Near term outlook offers a lot of chop, but with underlying seasonal upward pressure. Right now, a year end close >2065 looks probable.



*closing hour action: a little surge to a new intra high of 2042, but then cooling to the mid 2030s.

There is very natural resistance at the hourly upper bollinger.

So.. a second day of gains... as we're another day closer to Santa.

We're clearly headed broadly higher into end year, although right now, a year end close in the 2100s looks difficult.. even if Oil pushes upward.

more later.. on the indexes