Closing Brief

US equities (naturally) saw a day of micro price chop, with the sp'500 settling +5pts @ 2072. The two leaders - Trans/R2K, settled -0.1% and +0.4% respectively. Near term outlook is for continued gains... into the low sp'2100s.


sp'60min

Summary

*an important daily close in the 1190s for the R2K
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Suffice to say... for those few who were around today.. YOU are the diehard market traders.

If you're also around this Friday morning... you deserve a prize.

To all my American readers.. (and that is 70/80% of you).... have a great Thanksgiving holiday.
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*I'll post a daily wrap at 8pm EST

3pm update - micro chop into Thanksgiving

US equity indexes look set for continued micro chop into the Wednesday close, with the Sp'500 around 2070, Dow 17800, and R2K making a viable attempt to get a daily close in the 1190s. VIX is naturally subdued in the low 12s.


sp'60min

Summary

Price action is entirely to be expected....  looks like we'll settle around sp'2070.

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*Friday is also an early close at 1pm EST... so.. in many ways its almost the weekend!

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Notable weakness: (along with the drillers), CHK -2.6%. The fact that Nat' gas is -1.6% is not helping!

2pm update - R2K clawing higher

Whilst the broader market is seeing micro chop, there is a touch of notable strength in the second market leader - the R2K, +3pts @ 1189. A few daily closes in the 1190s will confirm that an attempt to break the double top of 1212/13 is due in December.


R2K, daily

Summary

Here is the bigger issue though...

If can accept Trans 10k... and then R2K >1212... then what does that imply for the broader market next year?
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I've already posted a provisional target zone for end 2015....but really.. what do YOU think?
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Notable weakness: RIG -8%, SDRL -21%.