Closing Brief

US equity indexes closed broadly higher for the third consecutive day, sp +25pts @ 2064. The two leaders - Trans/R2K, settled higher by 1.1% and 1.3% respectively. Near term outlook is bullish to the 2075/80 zone, with the 2100 threshold just about in range by year end.


sp'60min

Summary

*closing hour action: minor chop... absolutely nothing for the equity bears to cling to.
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A third day for the equity bulls, and the double floor of sp'2005 is now fading far below.. almost a full 3% ! The door is wide open to test resistance of 2075/80.

The sp'2100s look due.. the only issue is whether the year closes a little above.. or below. Difficult to say.

What is not difficult to say.. near term outlook is bullish.... and that should at least continue into mid January.

Have a good evening.

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more later... on the VIX