Closing Brief

US equity indexes closed moderately mixed, sp +0.3pts @ 1989 (intra range 2005/1969). The two leaders - Trans/R2K, settled lower by -0.1% and -0.8% respectively. Near term threatens Friday weakness, but still, the market looks set for another push higher into next Wednesday's FOMC. From there... another key lower high should be solidified.


sp'60min

Summary

*closing hour action: a new afternoon high of 1992... some 23pts above the earlier low!
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Well.... that is the ECB out of the way.

All that is left now is the FOMC next Wednesday afternoon.

I admit its entirely possible that even on a spike higher next Wednesday, we might not break either of the two recent highs of 2009/2005. Today's latter day recovery was another example of the underlying upward pressure.

For the super cautious bears... another 3.5 trading days to wait on the sidelines.

Anyway.............. have a good evening :)

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more later... on the VIX