US equity indexes closed on a positive note, SPX +27pts (0.7%) at 3919. Nasdaq comp’ +1.0%. Dow +0.6%. The Transports settled +0.3%. R2K +1.5%.
sp’60min
Summary
closing hour action: further chop, if leaning upward to settle at the highs of the day. S/t momentum remained marginally negative.
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… and that concludes a choppy… if net positive Tuesday. The s/t cyclical setup is messy. Bears can argue structure is a bear flag, whilst bulls can comfortably seek teal gap… if not 4K, as daily momentum is increasingly positive.
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notable stock: COIN
Coinbase higher on the m/t positive of job firings.
I do believe this will be a l/t survivor.
Slightly biased, as I’ve used the service… which was flawless.
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notable bond ETF: TLT
Bonds cooling back as yields popped.
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notable bank: BAC
A little chop… inline with the main market. Earnings are due early Friday, which should be fine. The outlook has to be seen as suspect.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST