US equity indexes mostly closed a little higher, SPX +6pts (0.2%) at 3668. Nasdaq comp’ -0.05%. Dow +0.2%. The Transports settled +0.4%.
sp’60min
Summary
closing hour action: nano scale chop… leaning upward to break a new intraday high. of 3670.
*awaiting earnings from CRWD, SNOW, and a few lesser others.
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… and that concludes Wednesday, which was very similar to last Friday/Monday. We’ve tagged yesterday’s gap, but that is all the market could manage. Even if Thursday sees another wave lower, it remains a series of higher highs and higher lows.
All the equity bulls are missing is a VIX sustainably under the key 20 threshold.
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notable stock: ZM
Zoom trying to find a floor after yesterday’s (rather stupid) post earnings washout.
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notable stock: MRVL
Yesterday’s black candle played out. Marvell just cooling with the main market. Earnings due Thurs’ AH should be fine with a positive outlook. I’d still lean to AMD… or a broad based TSM, which supplies wafers to almost everyone.
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notable Dow component: CRM
As is typically the case, the bidder gets whacked lower. Major support around psy’200 with the 200dma. Clearly though, the Slack acquisition is a positive move, and Microsoft teams will need to step up their game… if only a little.
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Here… it was a day of cold grey horror, which didn’t help my mood, as the news is increasingly horrible. I hope there is some golden sunshine in your world. Have a good evening.
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more later on the VIX and Indexes by 6pm EST