Wednesday 25 September 2013

Closing Brief

The main indexes closed moderately weak, with the sp -4pts @ 1692. The two leaders - Trans/R2K, closed -0.7% and -0.1% respectively. Near term trend is weak, but the bigger weekly trend remains to the upside, with a target of sp'1750/75 in October.


sp'60min


Summary

Today was the fifth consecutive daily decline in the sp'500, the last time that happened was last December. A sixth day tomorrow, would need us to go back to last July...when sp' was a mere 1266. Distant days eh?
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Trading volume remains very low, and despite the declines, the mood in the market doesn't even rate as slightly concerned - as reflected in a VIX that still closed lower!

more later..on the VIX