Major indices close nearly flat. Crude
oil futures closed lower again by 1.5% to $57.50.
Monday's
market action gave us 3 consecutive lower intraday lows in the S&P 500 Index as
well as in the Nasdaq
(explanations below). This is a bullish signal telling us that
sellers may be done in the short term. It will be interesting
to see if we get more bullish signals today and through the week (click
here for more info).
Stocks on the
Move
Marathon Oil (MRO | Quote | Chart | News | PowerRating) Q3 Earnings More Than Double, Top
Estimates (full
story). MRO shares rise by 1.3%.
Biogen Idec (BIIB | Quote | Chart | News | PowerRating) Q3 Profit Surges On Strong Drug
Sales, Non-GAAP EPS Tops Consensus; Lifts FY06 EPS Forecast (full
story). BIIB shares jump by 8.4%.
Loews Corp. (LOW | Quote | Chart | News | PowerRating) Q3 Consolidated Net Income More
Than Doubles On 9.7% Revenue Growth (full
story). LOW shares close lower by 0.5%.
Royal Caribbean (RCL | Quote | Chart | News | PowerRating) Q3 Profit Declines, Yet Tops
Estimates, Revenues Grow; Guides Q4, FY06 (full
story). RCL shares close fractionally lower.
Ethanol, Sweetener-selling Prices Lift Archer
Daniels (ADM | Quote | Chart | News | PowerRating) Q1 Profit (full
story). ADM shares close fractionally lower.
UAL (UAUA | Quote | Chart | News | PowerRating) Turns To Profit In Q3 On Higher Fares,
Strong Traffic Demand (full
story). UAUA shares fall by 2.25%.
Qwest (Q | Quote | Chart | News | PowerRating) Turns To Profit In Q3 On Rise In Margin,
Revenue Slackens (full
story). Q shares fall by 4.2%.
For more stories as they happen, go to our Breaking
News section.
Market Snapshot
|
Dow |
-5.77 |
12,080.73 |
|
NASDAQ |
+2.94 |
2,366.71 |
|
S&P 500
|
+0.01 |
1,377.94 |
|
|
NYSE |
NASDAQ |
|
Volume |
2,712,866,000 |
1,889,691,000 |
|
Advances |
1781 |
1442 |
|
Declines |
1489 |
1602 |
|
Up Volume |
1224 |
995 |
|
Down Volume |
1146 |
732 |
|
New Hi's |
214 |
161 |
|
New Lo's |
24 |
43 |
Strongest/Weakest Sectors
|
Strongest
Sectors |
Weakest
Sectors |
|
Amex Gold Bugs
Index (HUI) |
Nasdaq Transportation
Index (TRAN) |
| PHLX Gold and Silver Sector Index (XAU) |
Morgan Stanley Healthcare Payors Index (HMO) |
| Deutsche Bank Energy Index (DXE) |
Morgan Stanley Healthcare
Providers Index (RXH) |
Economic
News
Consumer
Confidence Index 105.4 (Oct.) Vs. 105.9 (Sept.)
Q3 Employment
Cost Index - Up 1.0%
Darren Wong
darrenw@tradingmarkets.com
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
3
Higher Highs In A Row and 3 Lower Lows In A Row- The same tactics
applied to 3 consecutive closes in the same direction apply here. 3 higher highs
identifies a market that is overbought, especially when its below its 200 day
ma. 3 consecutive lower lows is an excellent time to be looking for long
positions when the market is above its 200 and to be locking in short positions
when its below its 200 day.
