Closing Brief

US equities saw further swings, but with very significant weakness into month end, sp -26pts @ 1994 (intra low 1993). The two leaders - Trans/R2K, settled lower by -2.3% and -2.1% respectively. Near term outlook looks increasingly bearish.. the door is opening to sp'1920/00 by mid February.


sp'60min

Summary

*I bailed on a legacy R2K (long) position into the close. Price action looks stinky, and there seems little point holding across the weekend.
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This afternoon was a major failure for the equity bulls, having broken declining trend, but with a clear spike fail on the hourly chart.

Looking at the VIX monthly cycle... I have to say.. it looks like the market might be looking for a full washout to the low sp'1900s before the next multi-week up wave.

Have a good weekend
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*the usual bits and pieces across the evening.. to wrap up yet another week...