US equity indexes closed very significantly higher, sp +66pts (1.9%) at 3510. Nasdaq comp’ +2.6%. Dow +1.9%. The Transports settled +2.4%.
sp’60min
Summary
closing hour action: considerable chop, and leaning weak, as the market is distinctly stuck from the morning high of 3529. S/t momentum continued to weaken, and is set to turn negative Friday morning.
*awaiting earnings from SQ, ROKU, PTON, and a few lesser others…
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… and that concludes Thursday. It was another strong day for the market, as daily momentum has turned positive. Its now a case of whether a breakout >3550, or first some cooling to tag 2 or 3 of the recent downside gaps. Either way… new hist’ highs are coming.
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notable stock: GOLD
Powerful gains for Barrick Gold. The news is all positive, with a very promising outlook for 2021.
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notable mining ETF: GDX
A cooling wave to tag purple gap is probable… if equities cool back. Sometimes though… its just a case of breaking up and away.. and not looking back.
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notable stock: DKNG
Powering upward with the main market. New hist’ highs appear on the menu. The recent capital raise should give Draftkings plenty of opportunity in 2021.
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The sunshine continues… in lockdown city. Have a good evening
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more later on the VIX and Indexes by 6pm EST