Monday 12 May 2014

Closing Brief

US equity indexes all closed higher, with new historic highs in the Dow and the Transports. The sp' settled +18pts @ 1896. The two leaders - Trans/R2K, closed higher by 1.9% and 2.4% respectively. Near term outlook is bullish.


sp'60min


Summary

A very positive start to the week for the equity bulls, but then..today was their best opportunity, with the hourly cycles primed, along with $2-3bn of QE fuel.

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*I remain entirely on the sidelines overnight, and might well remain so until this nonsense maxes out within the next few weeks.

more later..on the VIX