US equity indexes closed very mixed, SPX -33pts (0.7%) at 4667. Nasdaq comp’ -1.7%. Dow u/c. The Transports settled +0.1%. R2K -2.3%.
sp’60min
Summary
closing hour action: leaning weak to break a new intraday low of 4665, as s/t momentum continued to weaken.
*awaiting earnings from AVGO, ORCL, LULU, COST, CHWY
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… and that concludes Thursday. It was another day of considerable chop, if leaning on the weaker side, especially in the late afternoon. Orange gap is near, and on balance, will be tagged Friday morning, before the market resumes upward into the FOMC.
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notable stock: RIVN
The hysteria is still broadly fading in this one. I don’t like it, and would favour F, GM, or even TSLA.
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notable bond ETF: TLT
Bonds moderately higher, as yields cooled back. Broadly though… I have to remain m/t bearish bonds/bullish yields for the first half of 2022.
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notable stock: BAC
Early weakness, but settling positive. Cyclically low, and due another push toward psy’ $50. I hold.
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A fine day… as winter solstice is only twelve days away. Have a good evening!
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more later on the VIX and Indexes by 6pm EST