Closing Brief

With the sp'500 failing to hold 1830..the market slipped into the close, settling -23pts @ 1819. The two leaders - Trans/R2K, both closed lower by around -1.4%. The near term outlook is for renewed upside later this week. VIX managed to hold gains, +10% in the mid 13s.


sp'60min

Summary

Certainly, the day turned out a lot more interesting than the open had suggested.

The break <1830 opened the door to 1818, and I will say, I'm kinda surprised to see that target hit today.

Baring a break <sp'1810/00, the primary trend unquestionably remains to the upside.

As I like to say....don't get lost in the bearish hysteria. That hasn't worked out so well in the past few years..and hey...there is HEAVY QE-pomo later this week...bears...beware!
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more later..on the VIX