US equity indexes closed broadly higher, SPX +29pts (0.6%) at 4725. Nasdaq comp’ +0.8%. Dow +0.5%. The Transports settled +1.4%. R2K +0.8%.
sp’60min
Summary
closing hour action: nano-scale chop, but pushing upward to break a new intraday high of 4740. Cooling in the final minutes, as s/t momentum continued to weaken.
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… and that concludes the week! Whilst the week started on a pretty ugly note, it was a case of mainstream hysteria, and with that fading, normal service has resumed.
Whilst we’re s/t cyclically over-stretched, Monday offers higher highs, and perhaps we should be looking for a turnaround Tuesday, with some cooling into Wed/Thursday. I’d see that as just an opportunity to re-position ahead of the new year.
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notable stock: CROX
As is typically the case, the bidder for a company gets the smack down. I don’t follow the company, but I’d see the bold as buying once it forms a floor… which will take at least some days.
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notable bond ETF: TLT
Bonds sig’ lower, as yields climbed into Christmas. We should see rate hike’1 next March/April, with another 1 or 2 to follow.
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notable bank: BAC
Higher with the main market, and helped with rising yields. I hold… and am looking for psy’ $50 with Q4 earnings in mid January.
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Here it was a day of grey horror, and an excuse to stay inside.
Wherever you are… have a good evening!
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more later on the VIX and Indexes by 6pm EST