Thursday 21 August 2014

Closing Brief

US equities closed generally higher for the 8'th day of 10, sp +5pts @ 1992 (new historic high 1994). The two leaders - Trans/R2K, settled -0.4% and +0.2% respectively. Near term outlook is for sp'2000s tomorrow, with 2010/20s in late August.


sp'60min


Summary

So... another up day.. and what was especially impressive was seeing the R2K rebound from a morning low of -1.0%. The closing daily candle on the R2K was a clear spike floor, and bodes strongly for the bulls tomorrow..and into next week.

*I remain content on the sidelines. I'm not interested in going long at these levels, but certainly... have ZERO interest in attempting any index shorts until 2030/50.

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more later... on the VIX