Bulls Snap 2-Session Slide

The market showed strength throughout Monday’s session as progress on the next stimulus bill and perhaps some bargain hunting after last weeks’ declines fueled gains. Continued good news on a possible vaccine development was also in focus after Moderna (MRNA) said it has begun Phase 3 trials, with results expected by November.

The Nasdaq closed at 10,536 (+1.7%) after trading to a late day high of 10,546. Near-term resistance at 10,500 was recovered with continued closes above this level signaling a retest towards the 10,600 area.

The Russell 2000 settled on the session high at 1,484 (+1.2%). Key resistance at 1,485 was challenged but held with a close above this level leading to a retest towards 1,500.

The S&P 500 tested a morning peak of 3,241 while finishing at 3,239 (+0.7%). Prior resistance at 3,225 was reclaimed with continued close above this level keeping strength towards the 3,250 level in play.

The Dow snapped a 2-session slide after tapping a morning high of 26,625 while closing at 26,584 (0.4%). Key resistance at 26,500 was cleared and held to keep upside towards 27,000 in focus.

Claim $500 to $4,600 & More In Hidden Unclaimed Income Every Month Like Clockwork

• Takes LESS Than 10 Minutes a Week
• Averaged 32.26% Gains in Weekly Income Over the Last Year
• Made 1,677.96% Returns in the Last 12 Months

Go Here To Learn More …

 

ANALYST UPGRADES/DOWNGRADES

American Airlines (AAL) upgraded to Market Perform from Underperform at Raymond JamesTapestry (TPR) upgraded to Buy from Neutral at Goldman SachsWolverine World Wide (WWW) upgraded to Buy from Hold at Pivotal Research

Cabot (CBT) downgraded to Neutral from Overweight at JPMorganFirst Solar (FSLR) downgraded to Neutral from Buy at Roth CapitalGSX Techedu (GSX) downgraded to Hold from Buy at Deutsche Bank

 

FRIDAY’S EARNINGS ANNOUNCEMENTSBefore the open:  3M (MMM), Altria Group (MO), Corning (GLW), DTE Energy (DTE), Franklin Resources (BEN), Harley-Davidson (HOG), JetBlue (JBLU), Martin Marietta Materials (MOM), Pfizer (PFE), Rockwell Automation (ROK), Sherwin-Williams (SHW), TransUnion (TRU), Waters (WAT), Xerox (XRX), Zebra Technologies (ZBRA)

After the close: Akamai Technologies (AKAM), Boston Properties (BXP), Chubb (CB), DexCom (DXCM), eBay (EBAY), FireEye (FEYE), Horizon Technology Finance (HRZN), Imax (IMAX), Juniper Networks (JNPR), Lattice Semiconductor (LSCC), Masimo (MASI), NorthWestern (NWE), Plantronics (PLT), Seagate Technology (STX), Starbucks (SBUX), Trustmark (TRMK), Unum (UNM), Visa (V), Zynex (ZYXI)

FRIDAY’S ECONOMIC NEWSRedbook – 8:55amS&P Corelogic Case-Shiller – 9:00amConsumer Sentiment – 10:00amRichmond Fed Manufacturing Index – 10:00am

METALS/ OILGold closed at $1,931.00   an ounce,​ up $33.50​Silver settled at $24.50 an ounce, up $1.65Copper finished at $2.90 a pound, up $0.01Crude Oil was at $41.65  a barrel, up $0.31Bitcoin Investment Trust (GBTC) ended at $12.15 ​​up $1.77

I hope this helps you prepare for the trading day. Make it a great one!

   Todd Mitchell

Not sure the best way to get started?​Follow these 3 simple steps …​

Step #1: Get These FREE Reports & VideosOptions INCOME  Profits  |  8 Video  Series  |  7  Habits that Kill Traders…

Step #2: Enroll in an Advisory or Educational ProgramPremium Advisories | Featured  Educational  Programs 

Step #3: Connect with The CommunityTrading Concepts Official Facebook Page