US equity indexes mostly closed on a positive note, SPX +30pts (0.6%) at 4796. Nasdaq comp’+1.2%. Dow +0.7%. The Transports settled -1.1%. R2K +1.3%
sp’60min
Summary
closing hour action: micro chop, leaning a touch weak. S/t momentum ticked upward, and is prone to turning positive early Tuesday. However, I’m inclined to see a failure around the zero threshold, with cooling to 4700.
–
… and that concludes trading day one of 2022. It was a bit of a choppy, if positive leaning mess. With AAPL breaking a market cap’ of $3trn, the bulls should be pleased.
Yours truly remains suspicious we’ll cool back to around 4700, before resuming upward to new hist’ highs >4808.
–
notable stock: KMI
Kinder Morgan reflective of a very strong energy sector. I’ve managed to restrain myself, and NOT lighten up in this one. I just wish I had $200K of this, as $13K of dividends would fund most of my annual bills!
–
notable bond ETF: TLT
A very rough start to the year for bonds, but the drop is a just one, as yields should broadly climb across 2022, with the fed set to hike rates in March/April.
–
notable bank: BAC
It shall remain the case… higher rates > bullish the banks. Soft target psy’ $50, with secondary 70/75. I exited this morning, and look to buy back on any cooling.
–
Here it was pretty grey… and an excuse to stay inside.
Have a good evening
–
more later on the VIX and Indexes by 6pm EST