Closing Brief

US equities closed significantly lower, sp -29pts @ 1877. The two leaders - Trans/R2K, settled lower by -1.9% and -2.3% respectively. Near term outlook offers threat of early Tuesday weakness, at least to 1870/68, along with VIX 25/26s, before pushing upward into end month.



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Summary

*Closing hour action: new intra low, as the hourly MACD cycle sees a bearish cross... as expected
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Last Friday I had noted the threat of an opening Monday gap lower.. we saw that.

The market built a micro bear flag in the afternoon, and that was certainly confirmed around 1.45pm.

There is clear support in the 1875/70 zone. Anyone still short.. now faces HIGH threat of renewed upside.

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more later.... on the VIX