Monday, 25 March 2019

Closing Brief

US equity indexes closed a little mixed, sp -2pts (0.1%) at 2798. Dow +0.1%. Nasdaq comp' -0.1%. The two leaders - Trans/R2K, settled -0.5% and +0.5% respectively. Near term outlook offers a bounce into the sp'2810/20s.



closing hour action: leaning upward, with another attempt to break/hold above the hourly 10MA, but failing, with a daily close <2800 threshold.

... and that concludes Monday. It was a day of moderate swings, mostly leaning toward the bears. On balance though, the bulls should be rather pleased with today, not least after the overnight Asian smack down.

The s/t cyclical setup favours the bulls for Tuesday, but there remains the issue of BREXIT, which does threaten late week/end month turmoil.

notable stock: MU

A second rough day for Micron, as the post earnings Thursday gains are all being eroded. I see the stock as m/t problematic, until memory prices show some sign of leveling out.

notable stock: TWTR

Friday saw a clear failure at the 200dma, and today's action wasn't inspiring.

notable stock: TSLA

Its an ugly s/t trend, with the stock also m/t broken. RBC downgraded 245>210. Yours truly holds to psy'200/190s... only negated with a monthly close >300, and that sure doesn't look likely.


Have a good evening
more later on the VIX and Indexes by 6pm EDT