Friday 21 February 2014

Closing Brief

US indexes closed somewhat mixed, sp -3pts @ 1836. The two leaders - Trans/R2K, settled +0.8% and +0.2% respectively. The outlook for next week remains broadly bullish, as supported by the bigger weekly/monthly cycles. VIX continues to reflect a market that is essentially fearless.


sp'60min


Summary

Certainly, it was not the most exciting of weeks, indeed..it was kinda dull. Yet...most important, we saw the bears trying to punch the market lower, but only managing some borderline significant weakness for a few hours on Wednesday.

Aside from that, the overall price action remains in favour of the equity bulls. General upside into the next FOMC of March'19 is expected.

Have a good weekend everyone.

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more later..on the VIX