US equity indexes mostly closed a little mixed, SPX +5pts (0.1%) at 4374. Nasdaq comp’ -0.2%. Dow +0.1%. The Transports settled +0.1%. R2K -1.5%
sp’60min
Summary
closing hour action: micro chop, leaning a touch weak.
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… and that concludes Wednesday. It was a day of considerable chop. With a new hist’ high, it has to be seen as a net bullish day. Whilst I’m very open to s/t cooling… as low as 4250/40s, I have to expect the 4400s, if not the 4500s by around Labor day.
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notable horror: AMC
Another difficult day for the lunatics of Wallstreetbets. Sure… the company has a future, but cinema is a dying style of watching movies, and I don’t say that lightly, as someone who would visit the theater every week.
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notable stock: COIN
I see no news. A broad mess… and I’d only be a willing buyer if psy’ $100.
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notable stock: RIG
I’d be the first one to call it ‘speculative’. Whilst I like the company, a test of key price threshold around $3.10 would be one hell of a ‘comfortable’ buying level. I’m going to wait… and hope!
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A fine summer’s day. Have a good evening
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more later on the VIX and Indexes by 6pm EST