Eyes On This Support Level
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating)
has broken below its support level at 10,000. This in the midst of more less-than-rosy earning results. The Dow has slowly crept down to break below its
10,000 level and is now eyeing its 9669.00 support level.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) is struggling
to stay positive, but weakness in the index is beginning to overtake the tech-heavy
Composite. If the Nasdaq were to close negative today, it would be the
seventh day in a row that the Nasdaq loses ground.
With the weaker equity market in addition to the
turmoil in the Middle East and indications that the Federal Reserve is delaying
plans of a rate hike, gold has been an alternative investment for traders.
Today
June gold
(
GCM2 |
Quote |
Chart |
News |
PowerRating) has broken above the $305.00–an–ounce resistance
level out of a cup–and–handle pattern. Gold has an influence on the
Phlx Gold
& Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) and some of the gold mining stocks,
such as Anglogold
(
AU |
Quote |
Chart |
News |
PowerRating), Barrick Gold
(
ABX |
Quote |
Chart |
News |
PowerRating), Newmont
(
NEM |
Quote |
Chart |
News |
PowerRating) and
Placer Dome
(
PDG |
Quote |
Chart |
News |
PowerRating). June gold is up strong this morning at $308.00,
up over $3.00.
Some Stocks that are trading with very strong
volume:
Health Net
(
HNT |
Quote |
Chart |
News |
PowerRating) is rallying from a
pullback off the high. Volume is unusually high for this time of the day. HNT
has an uptrending
ADX of 23. Health Net is trading at 28.58, up 1.21.
Anthem
(
ATH |
Quote |
Chart |
News |
PowerRating) had pulled back from the
highs and is now rallying to make an all-time high and has very strong volume.
ATH has a
TradingMarkets.com RS3 rating of 88 and an uptrending
ADX of 41. ATH is trading at 70.30, up 2.55.
ITT Industries
(
ITT |
Quote |
Chart |
News |
PowerRating) is breaking
out to newer highs with strong volume. ITT has a
TradingMarkets.com
RS3 rating of 89 and an uptrending
ADX of 47. ITT is trading at 69.66, up 1.66.
Triad Hospitals
(
TRI |
Quote |
Chart |
News |
PowerRating) is attempting to
break out above the 42.00 resistance line. TRI has a
TradingMarkets.com
RS3 rating of 89 and an uptrending
ADX 40
Corinthian Colleges
(
COCO |
Quote |
Chart |
News |
PowerRating) is breaking
out above the 55 resistance level with very strong volume to hit all-time highs.
COCO has a
TradingMarkets.com RS3 rating of 87 and an uptrending
ADX of 39.
Read
Kevin Haggerty’s Views From The Trading Desk to get an idea about where we
could be headed in this very shaky and non-productive market.