Friday 15 August 2014

Closing Brief

US indexes closed the week on a negative note, having been spooked by more Ukrainian news, sp'500 u/c @ 1955 (range 1964/41). The two leaders - Trans/R2K, settled u/c and -0.1% respectively. Near term outlook is for Monday weakness, before renewed upside.


sp'15min


sp'60min


Summary

...and another crazy week in market land comes to a close.

Certainly, we didn't see the selling into the close that I was anticipating. However, price structure is a pretty clear bear flag, and it does bode for some downside next Monday.

I am glad to be on the sidelines over the weekend (I'll sleep easier for it!)..and I'll be looking to go long in the 1930s.. with VIX 15s.

Have a good weekend everyone.

--
more later..on the VIX