Closing Brief

US equities closed moderately weak, sp -8pts @ 2068 (intra low 2058). The two leaders - Trans/R2K, settled lower by -0.5% and -0.1% respectively. Near term outlook is for further downside to the 2040/30s.. with VIX 20/21s. A key cycle low looks due, with renewed upside into early August.


sp'daily5

Summary

*closing hour.. a lot of chop...with some degree of a short-stop cascade..  annoying those bears holding short overnight.
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An interesting.. and busy start to the week...

Further weakness looks due tomorrow... with the Sunday night futures low - equiv' to 2044, highly probable.
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4.12pm.. For no apparent reason, price action has jumped immediately after the close... sp +5pts... with VIX cooling to the low 17s. More sporadic Greek headlines... no doubt.

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more later... on the VIX