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The market was slow today and ended pretty much flat at the close. Not much actions before the “election day”. Biotechs and clean energy group saw some strength. Oil plays were weak. Solar stocks led the market: FSLR +12.67%; SPWRA +12.85%, ENER +15.23%; TSL +25.64%; LDK +23.2%. It looks like investors are starting to make bets on plays that will benefit from an Obama win.
The Dow finished down 5.18 points; SPX slid 2.45 points; Nasdaq added +5.38 points:
BTK (biotechs) added +1.49%. USO (oil) slipped again, lossing 5.58%. OIH (oil services) was down 4.91%. XLF (financials) managed a small win. PBW (clean energy) jumped +6.38%. FXI (Chinese ADRs) gained +1.15%.
SPX
SPX slid 2.45 points. Its daily MAs went a bit lower, but the MACD rose.
Nasdaq
Nasdaq added +5.38 points to close at 1726.33. It closed above the 20-day MA. The MACD went higher.
Not much new development today. Both SPX and Nasdaq stayed above the 20-day MA, although the MAs slid a bit. VIX slid further, closing at 53.68, down 6.21 points. However, VIX’s intraday charts are showing possible bottoms. It may need to come back up a bit before continuing lower. After the market, MA reported earnings that beat the expectations. MA shares jumped more than +8% in AH trading.
Good night and HappyTrading! ™
