Wednesday, 27 April 2016

Closing Brief

US equity indexes closed moderately mixed, sp +3pts @ 2095 (intra low 2082). The two leaders - Trans/R2K, settled higher by 0.1% and 0.3% respectively. Near term outlook offers downside to the 2065/61 zone before the weekend. Anything in the 2050/40s now looks out of range until next week/May.



*closing hour action: pretty bullish, with a new intra high of 2099... with some cooling into the close.

So... that's the April FOMC out of the way.

Clearly, a day for the equity bull maniacs... as we came within 0.5% of breaking the 2111 high.

With just two trading days left of the week/month, the bears should be desperate to see that bear flag play out.. with April settling in the 2060s.. but that will still make for a net monthly gain.

Broadly.. its still a very borderline situation as the equity bulls are still YET to break a new high.. whilst bears are still utterly unable to muster any sig/sustained downside action.


**earnings due from FB and EBAY in AH.......................

more later... on the VIX