Stocks indices are for the most part holding gains but are well off the opening highs. SP500, DJ30, NASDAQ, SOX, RUTX, SP400 all gapped higher and tested resistance and all faded back from that resistance. That is not the most bullish action of course and it opens the door for more downside come Monday. It does, but there is always the Fed factor as it tries to prevent a selloff ahead of the election.
SP500 4.2, 0.2%
NASDAQ 6.81, 0.13%
DJ30 70.95, 0.39%
SP400 0.16$
RUTX -0.12%
SOX 0.94%
We are looking at closing VIPS as it is not recovering well. Also looking at some SPY puts. MCHP has bounced and is in position to fall as well.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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