Closing Brief

US equity indexes closed moderately mixed, sp -0.3pts @ 2064. The two leaders - Trans/R2K, settled lower by -1.4% and -0.5% respectively. Near term outlook is extremely messy, as there is clear threat of another push to the 2090/2100 zone.


sp'60min

Summary

*closing hour action: minor chop.. leaning weak, but settling well above the intraday low.
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So... that concludes May 12'th 2016.. in what remains one sick.. nasty... twisted casino.

I'm sure the financial historians of the 22nd century will overlook it, but today was a pretty good example of just how bizarre things currently are.
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re: near term targets... clearly, equity bears need to take out today's low of 2053 to negate the serious threat that we'll battle back upward to 2090/2100 early next week.

Even a move to the 2000/1990s looks difficult... as reflected in a VIX that appears magically pinned to the mid/low teens.

To those who survived today mentally intact.. congratulations, that puts you in the top 1%.

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more later... on the VIX