US equity indexes closed very mixed, SPX -1pt (0.04%) at 4221. Nasdaq comp’ +0.9%. Dow -0.6%. The Transports settled -2.1%.
sp’60min
Summary
closing hour action: minor chop, but leaning upward to break a new intraday high of 4232, with renewed cooling in the final minutes. S/t momentum ticked upward, and will be prone to turning positive late Friday morning.
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… and that concludes Thursday. It was a day of moderate chop, and on balance, the bulls should be very pleased with today’s price action. There is zero reason to expect anything different for quad-opex, if on much higher vol’.
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notable stock: AMD
Very powerful gains, with a decisive close above the 200dma. Things turn more interesting >psy’ $90, as giant psy’ $100 is long overdue. I hold.
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notable stock: AMZN
New historic highs appear due before end month, and its a VERY bullish sign for the broader market.
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notable stock: XOM
Fairing better than much of the sector.
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notable bond ETF: TLT
Yields (ironically) dropping back, and I almost have to wonder if the Fed (or its agents) were meddling today.
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notable fin: BAC
Lower yields…. a natural downward pressure on the US banks. Today is one ugly bearish engulfing candle, which leans distinctly s/t bearish. Nothing has broadly changed. M/t bullish… to psy’ $50. I hold.
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Here… it was a day of grey rainy horror, and I gladly stayed inside.
Have a good evening
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more later on the VIX and Indexes by 6pm EST