US equity indexes closed a little mixed, SPX -4pts (0.1%) at 4786. Nasdaq comp’ -0.6%. Dow +0.3%. The Transports settled +0.02%. R2K -0.6%.
sp’60min
Summary
closing hour action: micro chop, leaning a touch weak, as s/t momentum was increasingly negative.
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… and that concludes Tuesday. On any basis, with a new hist’ high of 4807, it was another day for the bulls. The s/t setup does favour the bears though, with a natural washout/retrace target of 4720/4700.
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notable stock: ZM
Reflective of a number of ‘stay at home’ stocks… m/t horror. Zoom picking up a few things from ‘Luminal’.
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notable bond ETF: TLT
Bonds cooling back with higher yields.
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notable bank: BAC
Banks held up relative to the main market, helped via higher yields. Big target is psy’ $50, which seems realistic with Q4 earnings due in mid January. I hold.
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Have a good evening!
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more later on the VIX and Indexes by 6pm EST