Thursday 3 April 2014

Closing Brief

US indexes closed moderately lower, having broken another set of new historic highs in early morning, sp -2pts @ 1888. The two leaders - Trans/R2K, settled -0.2% and -1.0% respectively. Near term outlook offers minor weakness for Friday morning, before a latter day rally into the weekend.


sp'60min


Summary

*a closing hour of minor chop, but this is surely just a part of a little retracement.
--

The weakness in the R2K is...curious, and it remains a fair way from breaking a new high. However, the R2K/Nasdaq were very bearish last week, and we saw how that turned out.

VIX settling higher by 2-3%, not much, but it is the first daily gain in six days.
-

more later..on the VIX