The S&P 500 tapped a fresh record peak of 4,129 before going out at 4,128 (+0.8%). Fresh and lower resistance at 4,125-4,150 was cleared and held. A move above this level keeps upside towards 4,175-4,200 in focus.
The Nasdaq traded to an afternoon high of 13,905 while closing at 13,900 (+0.5%). Prior and lower resistance from early February at 13,850-14,000 was recovered. A close above the latter would indicate a possible run towards 14,100-14,250 with the all-time peak at 14,175.
The Russell 2000 tested an opening low of 2,231 before finishing at 2,243 (+0.04%) while holding its 50-day moving average for the second-straight session. Near-term and upper support at 2,225-2,200 was challenged but held. A close below the latter would signal a backtest towards 2,175-2,150. Below is a chart of the IWM.
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Charles Schwab (SCHW) upgraded to Outperform from Market Perform at JMP Securities
Harley-Davidson (HOG) upgraded to Buy from Neutral at Northcoast
Philip Morris (PM) upgraded to Overweight from Neutral at JPMorgan
Altice USA (ATUS) downgraded to Neutral from Buy at Citi
Chuy's (CHUY) downgraded to Hold from Buy at Stifel
Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley
MONDAY'S EARNINGS ANNOUNCEMENTS
Before the open: Aphria (APHA), Canaan (CAN), TuanChe (TC)
After the close: BioHiTech Global (BHTG), MIND Technology (MIND), Simulations Plus (SLP)
MONDAY’S ECONOMIC NEWS
No major announcements
Gold closed at $1,744.80 an ounce, down $13.40
Silver settled at $25.33 an ounce, down $0.33
Copper finished at $4.04 a pound, down $0,05
Crude Oil was at $59.34 a barrel, down $0.45
Bitcoin Investment Trust (GBTC) ended at $49.65 up $0.60
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