Tuesday 1 April 2014

Closing Brief

US equities closed with borderline significant gains, sp +13pts @ 1885 - with a new intraday high of 1885.84. The two leaders - Trans/R2K, settled +0.9% and +1.3% respectively. Near term outlook offers opportunity for a minor down wave, but with a new high for the sp' & Trans, the bulls are in control.


sp'60min



Summary

*new historic highs for the sp'500, Transports.
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A third consecutive day to the equity bulls, and for the remaining bears...it is white flag waving time.

Indeed, near the close, I was short-stopped on a secondary block....and I'm now back on the sidelines, with zero interest in getting involved for the rest of this week..or the month.
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As for tomorrow....if Mr market likes the ADP jobs report, then the mainstream will be guns blazing bullish, and it'll be sp'1900s before most realise.

Oh well, I live to fight another day.

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more later..on the VIX