Wednesday 10 October 2012

Closing Brief

After the mixed open, the indexes declined across the day. The declines were not huge, but they certainly  have reinforced the down trend.

The VIX closed flat, and considering the index declines, I wonder whether its a warning that the indexes are close to flooring. I'm guessing its just that the cycle is out of sync, but that is a very uncertain guess.


IWM'60min



Dow



Sp


Summary

So the SP' closed just over 1430, but we're just a few pts from breaking.

The exciting thing is if we can gap lower overnight, then there is a chance we'll open much lower at the Thursday open in the 1420/15 range.

A very important point is that both the Dow, and Rus'2000 indexes already below their sp'1430 equivalent levels. The transports of course...way lower, as it has been for weeks.

More across the evening