US equity indexes mostly closed higher, SPX +43pts (1.1%) at 4159. Nasdaq comp’ +1.8%. Dow +0.5%. The Transports settled -0.6%.
sp’60min
Summary
closing hour action: choppy, but leaning upward to break a new intraday high of 4172, if cooling back in the final minutes. S/t momentum ticked lower, settling on the rather high side.
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… and that concludes Thursday, which was effectively bounce day’2. More broadly… price action is a chop fest. Friday will be OPEX, which inherently leans to considerable chop on higher vol’. The s/t cyclical setup favours the bears, although again… as it will be OPEX, I’d not expect anything particularly dramatic.
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notable Dow component: AAPL
Yesterday’s reversal candle from the 200dma played out.
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notable stock: TWTR
Momentum has turned positive, but the stock now faces major gap resistance.
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notable stock: TSLA
Much like Apple, yesterday’s reversal candle played out. The stock remains short/mid term broken.
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notable miner: FCX
Sig’ gains for Freeport, but the stock still looks due the 37/36s.
Here… as I type… its a chilly 11c/52f, the skies are grey, as the wind is howling! This remains… not summer. Have a good evening!
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more later on the VIX and Indexes by 6pm EST