US equity indexes mostly closed on a weak note, SPX -30pts (0.7%) at 4170. Nasdaq comp’ -0.3%. Dow -0.6%. The Transports settled -0.4%. R2K +0.6%.
sp’60min
Summary
closing hour action: very unstable, with another failed bounce from 4239. S/t momentum has stalled from just under the key zero threshold… which doesn’t bode so great for early Wednesday.
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… and that concludes Tuesday. It was a real mess of a day. Bounces are still being sold into, as daily/weekly/monthly momentum favours the bears. In some ways, its almost a wonder we’re not already below 4K.
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notable stock: LAC
Sister stock ALB was similarly higher. I’m not aware of any reason. The problem will be any further main market downside. I’d like to buy… but I can’t whilst the main market looks headed far lower into the spring.
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notable bond ETF: TLT
Bonds cooling for a second day. S/t price action is a mess. Thursday’s CPI data should pressure yields upward… with lower bonds.
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notable fin: BAC
Banks catching a bounce, but its weak relative to recent declines. Psy’ $30 looks pretty easy. Below that… lower monthly bollinger of the $21s.
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Twilight skies… and that was some three hours ago.
Wherever you are… have a good evening!
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more later on the VIX and Indexes by 6pm EST (although it tends to appear by around 4.20pm)