Thursday 20 March 2014

Closing Brief

US equities closed broadly higher, sp +11pts @ 1872. The two leaders - Trans/R2K, settled -0.1%  and +0.3% respectively. Near term outlook is for some 'choppy' selling into the weekend. Equity bears should be seeking a weekly close <sp'1858 to backup last weeks provisional bearish warning.


sp'60min


Summary

*an annoying bullish hammer candle to close the day.
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I for one am glad today is over, it became pretty tiresome with yet another attempt to break >1875.

For the equity bears out there, at least we didn't break >1875, although the daily close is way too close for comfort. It won't take much of a gap higher tomorrow to trigger a truck load of short-stops.

How we close the week will be even more important, but more on that later...

the usual bits and pieces across the evening...