Closing Brief

US equities closed broadly weak, sp -13pts @ 2063 (intra low 2052). The two leaders - Trans/R2K, settled lower by -2.8% and -0.4% respectively. Near term outlook is for renewed upside.. first target remains the 2115/20 zone. More broadly.. the 2150s look viable, not least if the Fed raise rates next Wednesday.


sp'60min

Summary

*closing hour action:
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A second consecutive net daily decline for most indexes, and as many recognise, price structure is increasingly coiling up for a big break... one way or another.

Considering 'everything'... I have to believe the market will resume high... last Friday was fine example of what can happen these days.

The 2115/20 zone still looks a comfortably upside target... and I'm guessing we'll see 2150s before most realise whats happening.


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Market of Dreams

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more later... on the VIX