In Today's Update:
1) Stocks started the week sharply lower in early morning trading but reversed course in the afternoon and finished the day mostly higher. The Dow Jones Industrial Average gained 34.31 or 0.14%, the S&P 500 added 4.64 or 0.18% while the Nasdaq 100 closed higher by 51.27 or 0.74% and the Russell 2000 finished lower by 4.99 or 0.34%.
2) Crude Oil Futures resumed their downtrend dropping $1.78 or 3.38% while Gold Futures fell $3.00 or 0.24% after a rally in the U.S. dollar. The Bond market advanced today and the yield on the 10-year treasury note settled at 2.864%.
3) Unlike most stocks these days, shares of Tesla Inc. (TSLA) have been rising sharply gaining 37% in the past three months. TSLA's share price is getting closer to its all-time high of $389.61 and still has a very sizable short float which now stands at 22.36%. If the stock can get above $390.00, there is a high probability of a short squeeze and a much stronger move higher.