Thursday, 28 January 2016

Closing Brief

US equities closed moderately mixed, sp +10pts @ 1893 (intra low 1873). The two leaders - Trans/R2K, settled -0.8% and +0.1% respectively. Near term outlook is for a Friday or Monday close >1900, and that will confirm the 1940/70 zone will be hit in first half of February.



*closing hour action: micro chop.. stuck under the sp'1900 threshold.

Well, not much to add... despite what was another day of rather significant swings, from 1902 to 1873... and back to 1899.

A daily close >1900 looks due.. whether that is achieved tomorrow or next Monday..  makes little difference. We still look set for the 1940/70 zone.

The real issue is that mainstream will soon be on the 'everything is fine again' train... and how things fall apart then.. should be pretty exciting.

more later... on the VIX