US equity indexes closed significantly higher, sp +42pts (1.3%) at 3383. Nasdaq comp’ +1.9%. Dow +1.2%. The Transports settled +0.9%.
sp’60min
Summary
closing hour action: breaking a new intra low of 3368, but then spiking upward. S/t price structure is a bull flag, and leans bullish for early Tuesday.
–
… and that concludes Monday. It was a positive start to the week, with the SPX printing the low 3400s. Regardless of early Tuesday, it does seem we’ll see the 3440/60 zone.
–
notable stock: MU
Micron was greatly helped by the Goldman upgrade. Broadly though, the stock is a chop fest.
–
notable stock: ORCL
Net higher… but the gains did erode from the open… with a black candle, and that leans bearish.. at least for part of Tuesday.
—
notable financial: C
Citi was whacked on a WSJ report, that says banking regulators are set to ‘reprimand’ Citi for failing to improve risk systems. The stock was m/t horror anyway. I wonder if Wells Fargo will also get hit.
—
Have a good evening
—
more later on the VIX and Indexes by 6pm EST