Closing Brief

US equities closed moderately mixed, sp -0.9pts @ 1939 (intra low 1920). The two leaders - Trans/R2K, settled +0.9% and -0.3% respectively. Near term outlook is choppy, with the 1970s more viable next week. February looks set for a great deal of chop/churn, with the next major wave lower unlikely until March.


sp'60min

Summary

*closing hour action: with no real sell side pressure, indexes see a latter day recovery, breaking a new cycle high of 1947, having battled upward from the Jan'20th low of 1812.
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Little to add, on what was a rather tedious day.

In some ways, it could be argued to most, to just walk away for a week.. or even the rest of the month.

First real opportunity of next powerful downside action is not likely until March.That doesn't mean there won't be tradeable swings of 2-3%, but from a bearish perspective, I don't much like the idea of shorting from anything until 1970s.
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more later... on the VIX