Dow: +44.81…
Nasdaq: +103.11… S&P: +14.08…
These two look like the tale of a marooned lighthouse keeper and the robot butler he built to stave off loneliness.
The S&P 500 increased 0.4% today and overcame a sluggish start as buyers quietly eased their way back into the market. The Nasdaq (+0.9%) and Russell 2000 (+0.8%) outperformed while the Dow increased just 0.2%.
For most of the day, the S&P 500 floated around its flat line, the market appeared to get a small bump after Senate Minority Leader Schumer reportedly said Senate Majority Leader McConnell agreed to restart stimulus talks. (For the 20th time).
It was a light day, but I added MIK as a new long. Some of these smaller retailers are getting peppy and the chart looks really good.
Thanksgiving week usually has a bullish bent to it so I’m not expecting anything too bad going forward short term based on the charts. Sentiment is probably a little too bullish, but for now, the bears don’t have a lot of leverage.
P&L here