US equity indexes closed on a broadly weak note, sp -41pts (1.2%) at 3567. Nasdaq comp’ -0.8%. Dow -1.2%. The Transports settled -0.7%.
sp’60min
Summary
closing hour action: swinging from 3604 to break a new intra low, as s/t momentum continued to weaken. Yellow gap remains within range for Thursday.
*awaiting earnings from NVDA.
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… and that concludes Wednesday. It was a day of considerable chop, leaning distinctly weak into the close. The s/t cyclical setup favours the bears… if only for early Thursday.
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notable stock: BA
A major reversal, but still s/t bullish, and holding massive net monthly gains.
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notable stock: DKNG
Underlying m/t buying interest, with yesterday seeing Loop Capital touting ‘buy to $100’.
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notable stock: ZM
Zoom soared just after 2pm. No news I’m aware of… just a sporadic jump with shorts covering. The stock is arguably still floor building after cooling from the Oct’ $588s.
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Here… it was yet another day of grey horror. Whilst the city remains locked down, at least I can order just about anything I want, not least another box from Corsair.
Have a good evening
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more later on the VIX and Indexes by 6pm EST