US equity indexes closed broadly weak, SPX -23pts (0.5%) at 4326. Nasdaq comp’ -1.4%. Dow -0.02%. The Transports settled -1.4%. R2K -2.3%.
sp’60min
Summary
closing hour action: relatively minor chop, leaning a touch upward… whilst s/t momentum remains marginally negative.
*awaiting earnings from AAPL, HOOD, X, and a few lesser others
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… and that concludes Thursday. It was yet another failed rally, as all the bounces are being sold into.
An obvious question is… why would we find a floor any time soon?
Ongoing price action is pretty ugly, and threatens 4k as early as late next week.
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notable stock: TSLA
Ugly, as yesterday’s black candle played out. A January close <840… and 550/500.
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notable stock: INTC
Even more of a mess than Tesla.
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notable bond ETF: TLT
Bonds sig’ higher… sporadic lunacy. Zero reason to not expect yields/rates to broadly climb. The only threat would be a main market crash… with the fed backing off, but that would be lunacy with rising inflation.
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notable bank: BAC
Lower with the main market. Lower yields didn’t help.
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Have a good evening
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more later on the VIX and Indexes by 6pm EST