Closing Brief

US equity indexes closed moderately higher, sp +10pts @ 1989 (intra high 1992). The two leaders - Trans/R2K, settled higher by 0.7% and 0.5% respectively. Near term outlook offers a 'Draghi inspired' break above last Friday's high of sp'2009.. with a test of the 200dma (currently 2021) early next week.


sp'60min

Summary

*closing hour action: increasingly nano-scale chop.... tedious... and NOT bearish.
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I've marginally re-drawn the bull flag, but whatever you want to call it, price action/structure does not favour the bears tomorrow.

There will be high threat of another 2-3 day climb... to the 200dma in the 2018/20 zone by late Friday/early Monday.

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**CEO of Square/Twitter set to appear on clown finance TV at 4.30pm. Dorsey remains a rather strange character..  whilst TWTR itself just appears to becoming myspace v2.0.
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more later.... on the VIX