It was yet another 1% day for the S&P 500®, this time to the upside as it closed higher by 27 points. The intermediate posture continues to be strongly bearish in this choppy environment. Earnings were again, front and center. Chipotle (CMG) closed higher by 24% and Facebook (FB) closed higher by 9%. Amazon (AMZN) and Intel (INTC) were both up huge afterhours on their earnings announcements as well, which could lead to a positive open for stocks in the morning. The NASDAQ® was the best performing U.S. index today as traders flocked back towards a “risk-on” mindset.
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