[Video] Reversal on the S&P 500, Morgan (MS) Falters at Dotcom Bubble High

Morgan Stanley (MS) reached our initial target but, perhaps not so surprisingly, ‘bottled it’ as it approached the infamous high of 2000.

Downtrend 3


We also look at the bearish outside day on the S&P 500, which leaves the potential for a double top pattern. Then we finish up on brent futures which finally broke above $70 following yesterday’s OPEC meeting.

S&P 500: Market Internals

S&P 500: 4202.04 (-0.05%), 01 June 2021

  • Energy (3.9%) was the strongest sector and Healthcare (-1.64%) was the weakest
  • 6 out of the 11 sectors outperformed the S&P 500
  • 286 (56.63%) stocks advanced and 219 (43.37%) declined
  • 90.69% of stocks closed above their 200-day average
  • 79.6% of stocks closed above their 50-day average
  • 63.96% of stocks closed above their 20-day average


  • + 13.70%   -  Devon Energy Corp  (DVN.N) 
  • + 13.63%   -  Marathon Oil Corp  (MRO.N) 
  • + 10.87%   -  APA Corp (US)  (APA.OQ) 


  • -9.31%   -  Abbott Laboratories  (ABT.N) 
  • -4.79%   -  Thermo Fisher Scientific Inc  (TMO.N) 
  • -4.70%   -  Invesco Ltd  (IVZ.N) 

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