Technical Analysis

US stocks give up most of the earlier gains but still close higher

Major indices little changed 

The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day.  

  • The Dow industrial average has extended its winning streak to 5 trading days. 
  • The Dow is 2% from its all-time high
  • The S&P is up 4 of the last 5 trading days. 
  • The S&P is less than 1% from the all-time high
  • The up one day, down the next for the Nasdaq index is on day 10.Today was an up day (tomorrow lower?).  
  • Energy is a best-performing sector as crude oil rallies to the highest level in 2 1/2 years.

The Meme frenzy continued today with:

  • AMC shares up 95% on the day
  • Bed Bath & Beyond rose 62.11%
  • Blackberry rose 31.92%
  • GameStop up 13.34%

The closes for the day are showing:

  • S&P index rose 6.10 points or +0.15% at 4208.14
  • NASDAQ index rose 19.85 points or 0.14% at 13756.33.
  • Dow rose 25.07 points or 0.07% at 34600.38
  • Russell 2000 rose 3.09 points or 0.13% at 2297.83

At the highs and lows for the day, 

  • The S&P was up 15.32 points and down -3.78 points
  • The Nasdaq was up 39.41 points and down -46.74 points
  • The Dow was up 131.34 points and down -29.35 points

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