The S&P 500 settled at 4,418 (-1.9%) and back below its 200-day moving average after sinking to a low of 4,401. Fresh and upper support at 4,425-4,400 failed to hold. A drop below the latter would indicate a further fade towards 4,375-4,350.
The Dow hit an afternoon low of 34,620 while finishing at 34,738 (-1.4%) and back below its 200-day moving average. Upper support at 34,750-34,500 failed to hold. A close below the latter would be an ongoing bearish development for additional weakness towards 34,250-34,000.
The Russell 2000 closed at 2,030 (-1%) with the late day low hitting 2,016. New and upper support at 2,025-2,000 was breached but held. A dip below the latter would signal a retest towards 1,975-1,950. Below is a chart of the IWM.
CyberArk Software (CYBR) upgraded to buy from hold at Needham
Nautilus (NLS) upgraded to buy from hold at Craig-Hallum
Intevac (IVAC) downgraded to neutral from buy at Benchmark
Quantum (QMCO) downgraded to neutral from buy at B. Riley
MONDAY'S EARNINGS ANNOUNCEMENTS
Before the open: Alexanders (ALX), Garret Motion (GTX), Kelly Services (KELYA), Olink Holding (OLK), Roivant Sciences (ROIV), Scorpio Tankers (STNG), TreeHouse Foods (THS), Weber (WEBR)
After the close: Advance Auto Parts (AAP), Avis Budget Group (CAR), Continental Resources (CLR), Hawaiian Electric Industries (HE), iPower (IPW), Kite Realty Group Trust (KRG), Medpace Holdings (MEDP), Omnicell (OMCL), Otter Tail (OTTR), Primerica (PRI), Riley Exploration Permian (REPX), Spirit Realty Capital (SRC), TriNet Group (TNET), Vornado Realty Trust (VNO), Ziff Davis (ZD)
MONDAY'S ECONOMIC NEWS
Gold closed at $1,842.10 an ounce, up $4.70
Silver settled at $23.37 an ounce, down $0.15
Copper finished at $4.51 a pound, down $0.15
Crude Oil was at $93.90 a barrel up $2.86
Bitcoin Investment Trust (GBTC) ended at $29.61, down $1.39
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