Markets again took a fall to start the week today. Both the Nasdaq and S&P 500 both fell slightly more than 1%. The Nasdaq itself is down almost 5% this month alone, just 4 days long thus far. Recent strong groups were hit hard today including chemicals and healthcare. Semis outperformed. NFLX an important leader this year hit an all time high today then had an ugly outside reversal day closing down over 4%. AAPL reversed today and also had an outside day. Economic bellwhethers FDX UPS plunged below their 200 day MAs today. After the close a glimmer of good news, being IP making an unsolicited buy out offer for TIN. Interestingly both IP and TIN were up after hours. Not much in the way of earnings reports Tuesday and we get retail sales figures and consumer credit data.
Stocks near 50 day support are COH 58, AET 40.95, BAX 57, CI 46.50, HUM 75, WPI 60.80, M 26, CBS 25.90, DPS 39.55, ABV 31, PM 68, ABB 25.55, WCN 30.40, BMC 52, CHKP 53.80, CTXS 79.80, FTNT 22.05, INFA 54, QLIK 29.85, EQT 50, KEG 16, PTEN 29.25, BLL 37.50, MCO 37.10, VCLK 16.55, MSI 45.45, SQM 58.20. Stocks that found 50 day support today were PPO CNI NSC XPX HK SUG BHI ADP RVBD EMC TDC AVGO SMTC XLNX MON.
Stocks near 200 day support are HBI 26.70, PVH 62.50, VFC 89, APD 88, DOW 34.05, HUN 16, PPG 83, PX 96, CAR 14.75, SYK 56, VPHM 17.10, ANN 25, DKS 35.45, EXPR 17.60, FAST 29.50, JWN 42.15, WFM 52, WSM 36, CAT 94, CBE 58.20, DOV 59.75, IR 44.10, JOYG 85, PLL 50, PH 84, MTW 15.45, ROK 76, ADSK 39, ORCL 31, CSX 68, JBL 18.05, MOLX 24, PKI 25.30, DFS 20.25, KKR 14.75, PAY 41.20, APC 70.80, CHK 27.45, CXO 87, COP 68.20, CLR 58.10, DVN 78.50, EXXI 28.50, XOM 75.85, NBR 24, NE 38.30, NBL 86, PXD 86.25, RDSA 67.20, SLB 80, SU 38.85, VLO 23.55, WLL 59.20, MMM 89.15, CTSH 72, CMCSA 22.30, JDSU 16.80, OVTI 28.90, TXN 32.25, AA 15.05, BHP 88.75, POT 52.50. Stocks that found 200 day support today are DD KLAC DIS BGC AVT TTMI AMP BP HES. Stocks that can be shorted as they lose their 200 day MAs and their sell stop spots are FMC 77.50, SOA 21.50, VRSN 33.05, APA 114.50, FTI 41.65, OPEN 79.25, BWA 66, ARUN 25.50. Stocks that lost their 200 day MAs today were HOT WCRX EBAY MDRX ROVI GTI DO MDR OMC PAYX SPRD SLW ALV. Stocks that can be shorted at 200 day resistance are JCP 33, EXPD 51, TROW 61, ANR 52. Stocks that met 200 day resistance today were LVS APH FCX BTU SWC CMI.
Stocks that can be shorted as they lose their 50 day MAs and their sell stops are CROX 20.40, ALB 65, MAR 34.60, WYN 31.75, WYNN 140, AGN 78.50, AGP 66, UNH 47.25, WLP 74.25, ANF 70, SCSS 14.70, YUM 52.80, VIAB 48.70, KSU 54.75, UNP 99.50, AXP 48.10, COG 53.75, TUP 61.75, QCOM 55.50, TWC 74.50. Stocks that lost their 50 day MAs today were CE HLS HS ITW NUAN ADS R DRC HAL NFX OXY EL RKT IRM NTAP APKT DTV PCS AEM WAT. Stocks that can be shorted at 50 day resistance are NKE 81.20, EMN 101, ABC 41, COV 54.50, AMZN 191, AN 34, BBBY 54, COST 79, PAG 20.65, CHRW 78, ADS 89, COF 53, MRO 52.10, SGY 31, WMB 31, TPX 60 MWV 32.55, ADI 39.80, VALE 32.05. Stocks that met 50 day resistance today were EMN SBUX TS ATW HOC NOV RRC ACN ARMH ALTR TRW AGU. Stock charts whose smooth uptrends now look broken recently are ROC TPX DTV PCLN.
Good luck.
The author owns TIBX HK.
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