US equity indexes mostly closed on a weak note, SPX -7pts (0.2%) at 3687. Nasdaq comp’ +0.5%. Dow -0.7%. The Transports settled -0.2%.
sp’60min
Summary
closing hour action: further chop, leaning on the weaker side from the 2pm high of 3697. S/t momentum failed from just under the zero threshold, and the setup leans to the bears for early Wednesday.
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… and that concludes Tuesday. It was a day of very considerable chop. Indeed, the market will be increasingly inclined for chop ahead of the Christmas break… on ever lower volume, as many will be (understandably) turning off their screens.
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notable stock: BAC
Just some cooling, not helped by weaker yields. M/t bullish, with soft target of the $31s.
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notable stock: NKE
Cooling from Monday’s hist’ high. Various upgrades.
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notable stock: M
Christmas sales can’t be expected to be good. How many will be buying from AMZN, rather than even bother to look on macys.com ?
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Here, it was a second day of grey horror. I hope you have some golden sunshine… wherever you are. Have a good evening.
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more later on the VIX and Indexes by 6pm EST