Thursday, 12 May 2016

Closing Brief

US equity indexes closed moderately mixed, sp -0.3pts @ 2064. The two leaders - Trans/R2K, settled lower by -1.4% and -0.5% respectively. Near term outlook is extremely messy, as there is clear threat of another push to the 2090/2100 zone.



*closing hour action: minor chop.. leaning weak, but settling well above the intraday low.

So... that concludes May 12'th 2016.. in what remains one sick.. nasty... twisted casino.

I'm sure the financial historians of the 22nd century will overlook it, but today was a pretty good example of just how bizarre things currently are.

re: near term targets... clearly, equity bears need to take out today's low of 2053 to negate the serious threat that we'll battle back upward to 2090/2100 early next week.

Even a move to the 2000/1990s looks difficult... as reflected in a VIX that appears magically pinned to the mid/low teens.

To those who survived today mentally intact.. congratulations, that puts you in the top 1%.

more later... on the VIX