Friday, 1 April 2016

Closing Brief

US equities ended the week on a broadly positive note, sp +13pts @ 2072, having swung from an early morning low of 2043. The two leaders - Trans/R2K, settled -0.7% and +0.3% respectively. Near term outlook is extremely borderline, as the equity bulls are set to begin taking out the series of marginally lower highs... or... an epic fail.



*closing hour action: micro chop, but with a notable new cycle high of 2075.

... and another week comes to a close.

April began with the bears being teased in early morning, with a swift reversal, one that held into the weekend.

The levels are clear across the various indexes.

It remains simply a case of whether the bulls can start breaking above the series of marginal lower highs.

2081, 2104, 2116, 2132, 2134

Regardless of the market nonsense..............

Have a good weekend

more later... on the VIX