US equity indexes closed rather mixed, SPX +0.7pts (0.02%) at 4192. Nasdaq comp’ +0.5%. Dow -0.4%. The Transports settled +0.2%. R2K +1.2%
sp’60min
Summary
closing hour action: further minor chop, leaning a little weak. S/t momentum ticked lower, settling moderately negative. I’d note first support is around 4170/60.
*awaiting minor earnings from Zoom Video’
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… and that concludes a pretty tedious Monday. Whilst s/t momentum has largely reset… the bears achieved nothing in price. Bulls in s/t control unless <4160.
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notable bond yield proxy: TNX
Moderate chop… but yields are holding above last Thursday’s breakout.
Soft resistance… around 3.85%.
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notable banking ETF: KRE
Regional banks choppy, if settling on a very positive note.
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notable stock: PACW
A combination of crazy bold s/t buyers, and a hyper short-squeeze.
PacWest remains next due to fail.
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16c/61f… is still not summer, with solstice just a month away.
Have a good evening
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more later on the VIX and Indexes by 6pm EST