Tuesday, 26 April 2016

Closing Brief

US equity indexes closed fairly mixed, sp +3pts @ 2091 (intra high 2096). The two leaders - Trans/R2K, both settled higher by around 1.0%. Near term outlook offers a post-FOMC break to the 2065/61 gap zone. There is a viable April close in the 2050/40s.. with VIX in the 17-19 zone.



closing hour action: micro chop.. leaning to the upside

**awaiting AAPL earnings**

So.. a pre-FOMC announcement day of moderate chop.. a mere 11pt (0.5%) trading range.. not exactly exciting... but to be expected.

Aside from AAPL earnings and the next pair of oil inventory reports, there is little reason the market will see any dynamic moves until tomorrow afternoon.

4.52pm.. rather amusing reaction in both TWTR and AAPL... the latter of which is now trading in the $97s... the price cluster zone of 98/96.

*if the main market does not  break new highs in the near term.. we'll see another giant rollover.. with sp'1600/1500s.. and that'd equate to AAPL $70.

Interesting times.

more later.. on the VIX