Friday, 26 February 2016

Closing Brief

US equity indexes closed moderately mixed, sp -3pts @ 1948 (intra high 1962). The two leaders - Trans/R2K, both settled higher by around 0.5% Near term outlook offers further upside to at least the 2K threshold. Best case is the 200dma in the 2020/25 zone, or the 2038/43 gap zone.. by FOMC week (March 14th).



*closing hour action: micro chop.. leaning slightly on the upside.

.. and another week comes to a close. This year is truly flying faster and faster, as financial and political developments unfold at what feels like an ever increasingly pace.

Price structure (marginally redrawn), remains a baby bull flag.. which bodes for the sp'1970s next Monday.

It is notable that CNBC will give no less than THREE hours of coverage to Mr 'Oracle of Omaha' Buffett, with his media lackey - Ms. Quick, next Monday morning. That has to be good for another 20/25pts, right?

Yours truly is merely waiting for mid March - FOMC week... when the current 'everything is fine again' bounce from sp'1810, will surely have maxed out.

The Oscars are Sunday night.... with 'Super Tuesday' fast approaching... the entertainment just keeps on coming!

Have a good weekend  :)

*the usual bits and pieces across the evening to wrap up the week.