US equity indexes mostly closed broadly lower, SPX -29pts (0.8%) at 3672. Nasdaq comp’ -1.9%. Dow -0.4%. The Transports settled +0.2%.
sp’60min
Summary
closing hour action: pretty choppy, swinging from 3673>3660, and then upward to 3675. Hourly momentum ticked lower, as s/t price pressure increasingly favours the bears.
*awaiting earnings from ADBE and RH
–
… and that concludes a rather powerful reversal day. Whilst the bulls managed new historic highs (if marginal), today’s downside reversal bodes s/t very bearish.
–
notable stock: BA
Boeing cooling with the main market. Broadly… the 280s remain a valid target.
–
notable stock: ZM
Zoom hit by the mixed downgrade from JPM, the main market, and also due to a direct capital flow from the ‘stay at home’ stocks toward new IPOs such as DoorDash and Thursday’s AirBNB
–
notable stock: X
Swinging from a multi-year high of psy’ $20.00 to settle powerfully lower… an effective reversal with the main market. S/t bearish… but m/t bullish to the $26s.
–
Here, it was another day of grey horror… and an excuse to stay indoors, and keep warm next to my heater. Have a good evening.
–
more later on the VIX and Indexes by 6pm EST