Closing Brief

US equity indexes closed moderately mixed, sp +4pts @ 2016 (intra low 2004). The two leaders - Trans/R2K, both settled higher by around 0.2%. Near term outlook offers the 2030/40 zone, before a powerful move lower, at least to the 1960/50s. The bigger weekly/monthly cycles continue to offer 1920/00 zone.


sp'60min

Summary

*closing hour action: very minor chop, holding above the hourly 10MA.
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Note the upper bollinger on the hourly cycle, now falling hard @ 2065. Those equity bulls who think we'll be trading above last weeks high at ANY point this month are likely in for a real surprise.

As things are, I'll look to pick up an index short tomorrow morning, as the weekly/monthly charts remain outright bearish.

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more later... on the VIX