Closing Brief

US equities closed broadly lower for a second consecutive day, sp -12pts @ 2051 (intra low 2045). The two leaders - Trans/R2K, settled lower by -0.9% and -0.8% respectively. Near term outlook offers a break under the important 2040 threshold.. with a fair opportunity of a weekly close in the 2020s.


sp'60min

Summary

*closing hour action: minor chop.. leaning somewhat weak in the final minutes.
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So, a second day lower... with 2045 being 66pts (3.3%) from the recent key high of 2111.

For now... bears have a moderate chance at a 38% fib retrace of the 1810-2111 wave.. into the sp'1990s, before the next bounce of at least 3%.

Considering the closing hour action, a Thursday move to the 2063/60 gap zone looks somewhat probable, before another attempt to break the 2040 threshold.

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Awaiting TSLA earnings...

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more later... on the VIX