US equity indexes mostly closed on a weak note, SPX -14pts (0.4%) at 3694. Nasdaq comp’ -0.1%. Dow +0.1%. The Transports settled -0.6%.
sp’60min
Summary
closing hour action: cooling from the 2pm high of 3702 to 3681… and then a 13pt micro ramp in the final ten minutes.
–
… and that concludes Monday. The open wasn’t pretty, but the market saw a very significant recovery, with a few indexes even turning positive. Tuesday might open higher, but a secondary wave lower is a high threat.
–
notable stock: AMD
AMD appears to want to test the 50dma, as daily momentum has only just turned negative.
–
notable stock: SLB
Schlumberger lower with the sector. Soft target of 28/29s still appears realistic within Jan’/Feb.
—
notable stock: PFE
Whilst the vaccines are being deployed, Pfizer stock is still battling to find a floor. Old resistance of the $36s should act as new core support.
–
Here it was a day of grey rainy horror. No sun, no moon, and no view of Jupiter/Saturn, but that is okay, as yesterday was good enough!
more later on the VIX and Indexes by 6pm EST