Closing Brief

US indexes closed with significant gains, sp +16pts @ 1971. The two leaders - Trans/R2K, settled higher by 1.7% and 1.5% respectively. Near term outlook offers the 1980/90s, whilst 2000s seem likely on a second attempt... later this month.


sp'60min

Summary

*I've largely 'cleansed' the hourly chart, right now, all I'm going to leave on there is a simple channel.
--

So...day'1 of the week was strongly in favour of the bull maniacs. The weekly cycles are confirming the turn from Aug'7th... and we're headed higher.

The brief drama from Friday morning is now a faded memory, and there is increasing consensus that we're headed into the sp'2000s.
--

*despite missing on some further gains, I'm more than content on the sidelines.. and have ZERO interest in any short side trades until at least mid/late September.

--
more later.. on the VIX