Wednesday, 30 March 2016

Closing Brief

US equities closed moderately higher, sp +8pts @ 2063 (intra high 2072). The two leaders - Trans/R2K, settled higher by 0.2% and 0.1% respectively. Near term outlook offers an overdue retrace, at least to the 2000/1990 zone, which would likely equate to VIX 18/19s.



*closing hour action: micro chop... leaning a touch lower into the close.. but clearly, nothing of any significance.

Another day for the equity bulls, but with a moderate hint that we might have seen at least a short term high - as reflected in a great many black-fail candles.

In theory, there is potential for broad declines tomorrow.. to the 2040/35 zone. Even if that is the case, that will make for a monthly close above the 10MA... and that is a problem.

more later... on the VIX