Tuesday, 12 April 2016

Closing Brief

US equities closed broadly higher, sp +19pts @ 2061 (intra low 2039). The two leaders - Trans/R2K, settled higher by 0.8% and 1.0% respectively. Near term outlook is extremely borderline, as there is threat of a break above the key high of 2075. Best case near term downside is the 2025/15 zone.



*closing hour action: a reaction-turn from a new intra high of 2065 - with VIX 14.84

So... opening gains, a swing lower to 2039.. but then the bloody oil headline resulted in a swift surge back upward, with algo-bot melt across much of the afternoon.

A really annoying day... but effectively, we're just stuck within a relatively narrow range of 2075-2020s.

yours truly remains short.. and (to my own surprise) reasonably content.

(the fact I'm not using margin sure helps me sleep)

more later... on the VIX