Closing Brief

US equity indexes closed significantly higher, sp +26pts @ 1903. The two leaders - Trans/R2K, settled higher by 2.5% and 2.1% respectively. Near term outlook offers the sp'1940s before the weekend, along with VIX 20/19s. The bigger weekly cycles are still threatening 1970s by mid February... before a grander decline into the spring.


sp'60min

Summary

*awaiting AAPL earnings... due at 4.30pm EST
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The closing hour saw renewed strength, having effectively bounced off rising trend. Its a good sign for the equity bulls into tomorrow.

So.. a day of gains.. negating most of yesterdays decline.

A straight run to the 1940s looks probable.. and that will equate to VIX back under the key 20 threshold.

At the Wednesday close, rising trend will be 1920.

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Q4 GDP data this Friday won't likely be pretty... so if we're 1935/45 late Thursday, it'd be a valid excuse for a Friday cool down.

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more later... on the VIX