US equity indexes closed broadly higher, sp +30pts (0.9%) at 3477. Nasdaq comp’ +1.4%. Dow +0.6%. The Transports settled +0.8%.
sp’60min
Summary
closing hour action: micro chop, leaning a touch higher. S/t momentum will be prone to turning negative early Monday.
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… and that concludes the week. Aside from the Tuesday afternoon scare, it was a week for the bulls, with the Transports breaking another new historic high today.
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notable stock: AMD
A second day lower, and the Xilinx merger could hold back the stock for some weeks.
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notable stock: INTC
Yesterday’s AMD Ryzen 5000 launch is part of today’s decline. Intel simply have nothing of significance due on the menu that I’m aware of. Note the reaction off upper trendline.
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notable stock: DIS
Disney higher for a third day… with the main market. Broadly.. the stock is pretty stuck. Bulls need to clear the 50dma in the $128s.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST