Thursday, 31 March 2016

Closing Brief

US equity indexes closed moderately mixed into the March/Q1 close, sp -4pts @ 2059 (intra high 2067). The two leaders - Trans/R2K, settled -0.3% and +0.3% respectively. Near term outlook offers a retrace, at least to the sp'2000/1990 zone.



*closing hour action: minor chop, an attempt to re-clear the hourly 10MA, but failing, and leaning distinctly lower into the close.

... and the first quarter of the year concludes.

It sure hasn't been boring, with a major Jan/Feb down wave to sp'1810, but then a massive rebound to 2072.

Most notable.. despite a mountain of 'everything is fine again' chatter, the equity bulls are yet to clear the most recent of the 'marginally lower highs' - the late Dec' high of 2081.

Until that is closed above... the equity bears can hold short.

Have a good evening

more later... on the VIX