US equity indexes mostly closed on a positive note, SPX +47pts (1.0%) at 4696. Nasdaq comp’ +1.2%. Dow +0.7%. The Transports settled -0.01%. R2K +1.0%.
sp’60min
Summary
closing hour action: minor chop, and leaning on the positive side to break a new intraday high, which was impressive, as s/t momentum continued to weaken.
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… and that concludes Wednesday. We opened choppy, but the buyers (yours truly included) did appear, with the market managing a second day of gains. New historic highs are clearly viable before year end.
*we’ve just six trading days left of the year.
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notable stock: ZM
A lousy day for Zoom, for what remains m/t horror. Sure, the company has a future, but I don’t like it.
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notable bond ETF: TLT
Bonds higher… but the m/t outlook has to remain bearish, with 2-3 hikes due next year.
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notable bank: BAC
A day of moderate chop. I added in early morning… very content to hold until psy’ $50.
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A fine sunset… although that was some 5.5 hrs ago! Have a good evening
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more later on the VIX and Indexes by 6pm EST