US equity indexes mostly closed positive, sp +12pts (0.3%) at 3465. Nasdaq comp’ +0.4%. Dow -0.1%. The Transports settled +1.1%.
sp’60min
Summary
closing hour action: a (surprising) break above s/t descending trend, as momentum continued to build. Its arguable that the market somehow knows that Pelosi/Mnuchin will agree on something early next week.
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… and that concludes the week. Whilst the bears managed net weekly declines, it was nothing decisive, as we’re still comfortably above multiple aspects of s/t support… notably sp’3400.
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notable stock: INTC
A day where the dip buyers left this one well alone. Multi-month price structure was a bear flag, and its not entirely surprising to see this one break lower.
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notable stock: MU
A fair amount of CALL buying today, but the stock IS s/t weak, stuck in a broad trading range.
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notable stock: TWTR
Twitter settled broadly flat. Dorsey and Facebook’s Zuckerberg are set to be dragged before the US Senate next Wednesday, which will clearly garner considerable media attention, and arguably be a downward pressure on both stocks.
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Another day closer to the clocks changing (UK will change this Sunday at 2am, whilst the US… Sunday Nov’1st).
Have a good evening
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more later on the VIX and Indexes by 6pm EST