The S&P 500 was up for the seventh-straight session after settling at 4,352 (+0.8%) with the record peak hitting 4,355. Fresh and lower resistance at 4,350-4,375 was breached and held. A close above the latter would signal additional upside towards 4,400-4,425.
The Dow ended at 34,786 (+0.4%) following the intraday run to 34,821. Key resistance at 34,750 was recovered. Continued closes above this level would suggest a retest towards 35,000 with the lifetime top from early May at 35,091.
The Russell 2000 went out at 2,305 (-1%) with the midday low tapping 2,302. Current and upper support at 2,325-2,300 failed to hold. A drop below the latter would likely lead to a continued fade towards 2,275-2,250. Below is a chart of the IWM.
Hurry! This sale ends in ...
Alsea (ALSSF) upgraded to Neutral from Underweight at JPMorgan
National Storage (NSA) upgraded to Outperform from Neutral at Baird
PNC Financial (PNC) upgraded to Outperform from Underperform at Wolfe Research
Atotech (ATC) downgraded to Hold from Buy at Deutsche Bank
ContextLogic (WISH) downgraded to In Line from Outperform at Evercore ISI
Keysight Technologies (KEYS) downgraded to Equal Weight from Overweight at Barclays
TUESDAY'S EARNINGS ANNOUNCEMENTS
Before the open: SemiLEDs (LEDS)
After the close: SMART Global Holdings (SGH)
TUESDAY'S ECONOMIC NEWS
PMI Services Index - 9:45am
ISM Manufacturing Index - 10:00am
METALS/ OIL
Gold closed at $1,783.30 an ounce, up $6.50
Silver settled at $26.50 an ounce, up $0.40
Copper finished at $4.28 a pound, up $0.04
Crude Oil was at $75.19 a barrel, up $0.26
Bitcoin Investment Trust (GBTC) ended at $28.58 up $0.11
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