Closing Brief

US equities saw minor chop across much of the day, sp +1pt @ 1937. The two leaders - Trans/R2K, settled -0.2% and +0.4% respectively. There looks to be reasonable opportunity for new historic highs later this week, with a max' level of 1970/75.


sp'60min

Summary

A generally quiet day in the US markets.

The market is in mere trundle mode, awaiting the next FOMC announcement, although it'd seem we won't get any surprises there.

*I continue to hold long via, CHK, WFM, and an index block. I've little concern about holding for a few more days.
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a little more later, to wrap up the trading day... at 8pm EST.

3pm update - here come the Iranians

Whilst equities look set for moderate upward chop into the close, its time for yet another game... Iran vs Nigeria. This is sure to be an interesting one, and is another welcome distraction from the nonsense of the casino.


sp'60min

Summary

Lets see if the Iranians can do well.... I've a small hope they might meet the USA in a later round, which really would make for an 'interesting' face off.
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As I noted at the open, minor chop...but most indexes look set to close slightly positive.

It would seem we'll battle higher into the FOMC, and there remains a reducing chance that we'll see the 1920s until at least next week.
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2pm update - underlying upside

US equities continue to see a lot of minor chop, but the underlying upward pressure remains, and we have some moderately bullish daily index candles. The daily cycle is offering the mid 1960s, with 1970/75 viable (if briefly) on an FOMC spike high.


sp'daily5

Summary

... and Germany win 4-0...  the Merkel s visibly pleased.    I guess that is bullish DAX for Tuesday.
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Seriously though, price action remains much the same... and we look set for new highs. not least as suggested by the R2k.

I realise some will be seeking the low 1900s in another wave lower. later this week, but price action does not support it.