US equity indexes mostly closed significantly lower, sp -38pts (1.2%) at 3281. Nasdaq comp’ -0.1%. Dow -1.8%. The Transports settled -2.6%.
sp’60min
Summary
closing hour action: choppy, but leaning upward.. as s/t momentum ticked upward. The close above the hourly 10MA leans s/t bullish.. even if Tuesday initially opens weak.
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… and that concludes Monday. It was a very bearish start to the week, especially considering the market began already s/t oversold (hourly, not daily cycle). Regardless of any ‘turnaround Tuesday’, it’d seem we’ll be tested sp’3100 soon enough… where the 200dma and the monthly 10MA are lurking. Those had better not be settled under next Wednesday, or it’ll make for a m/t trend break.
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notable miner: PAAS
Hit hard with silver -8% in the $23s. Its a wonder Pan American wasn’t -10%.
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notable stock: ROKU
Deal with Comcast, to stream NBC’s Peacock service.
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notable Dow component: DIS
Orange gap appears a given. I have spoken. (yes, I’m overly obsessed with the Mandalorian)
The sun sets on summer 2020. Have a good evening
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more later on the VIX and Indexes by 6pm EST