The bulls and the bears are already preparing for their Thanksgiving feasts and the S&P 500 index is reflecting the state of the stand-off.
On the upside, the index was unable to breach the wall at the 4000 area. On the downside, the index found buyers well ahead of the low from last week. To further illustrate the indecisiveness of the index, the opening and closing prints of the regular session were almost exact.
The end result was a modest decline of 16 handles with a close of 3958.
Microsoft Corp (NASDAQ: MSFT) was the biggest winner of the top components of the index. All the others were flat or in red. For the session, the issue gained $0.83 or 0.33% to close at $242.05.
That was nearly 1% better than the cash index’s decline of 0.40%.
Tesla Inc. (NASDAQ: TSLA) picked up some big momentum to the downside and was the biggest loser of the top components of the index. For the session, the issue declined for the fourth day in a row by $12.32 or 6.8% to close at $167.87.