Thursday, 21 April 2016

Closing Brief

US equity indexes closed moderately lower, sp -10pts @ 2091. The two leaders - Trans/R2K, settled lower by -1.2% and -0.6% respectively. Near term outlook offers the 2065/61 gap zone, before some chop into the FOMC of April'27th.



*closing hour action: minor chop

So.. we've now swung from 2111 to an intra low of 2088.. 23pts.... its a start, right?

The 2065/61 zone looks pretty straight forward to hit.. whether tomorrow or next Monday. Then the market will likely trade in a holding pattern into Wed' afternoon.

Once the FOMC is out of the way, then its merely a case of whether the bull maniacs are willing to resume buying... or keep on bailing into end month.

*it is notable we have the Q1 GDP next Thursday, so the latter half of next week will likely be very dynamic.

more later... on the VIX