The gains were short lived as political tension over boarder security and chatter of a government shutdown overshadowed renewed optimism with the major indexes settling mixed. Volatility remained elevated but tested a lower low and lower high than the previous session despite the whipsaw action.

The Nasdaq gained 0.2% following the intraday push to 7,129. Prior resistance at 7,125-7,175 held with a move above 7,200 being a more bullish development.

The S&P 500 slipped a point, or 0.04% after testing an intraday high of 2,674. Resistance at 2,675-2,700 held with continued closes above the latter signaling a possible near-term bottom.

The Dow was lower by 0.2% despite trading to an opening high of 24,791. Near-term and lower resistance at 24,800-25,000 held with a close above the latter and the 200-day moving average being a slightly bullish signal.

The Russell 2000 was down 0.2% after testing a morning peak of 1,465. Lower and fresh resistance at 1,465-1,480 held on a dime with additional hurdles at 1,485-1,500.

Consumer Staples rose 0.8% to lead sector strength. Utilities and Healthcare were up 0.4% and 0.3%, respectively.

Financials and Industrials paced sector weakness with declines of 1% and 0.6%, respectively.

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

Source link