Market Recap

Dow: -39.54…
Nasdaq: -18.72… S&P: -0.90…

The S&P 500 (unch) closed little changed on Monday in a session that lacked conviction. The Nasdaq (-0.1%) and Dow (-0.1%) both declined 0.1% while the small-cap Russell 2000 fell 0.7%.

Buying interest was restrained by the upward pressure in interest rates and oil prices ($108.18, +1.24, +1.2%), technical resistance near the underside of the S&P 500’s 50-day moving average (4417), and lingering growth concerns attributed to the Fed, China’s COVID restrictions, and the Ukraine-Russia situation.

I added oil & gas name TELL as a new long today.

P&L here


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