Five Stocks Boosted By AMAT Ripple Effect
The Dow Jones Industrial Average
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$INDU |
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rallied out of the gate this morning when the opening bell rang. What has
looked like an oversold market, really had no help from any economic news.
Some of the sectors that are helping the Dow move
higher are the Morgan Stanley Consumer Index
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$CMR.X |
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Morgan Stanley Cyclical Index
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$CYC.X |
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Index
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PowerRating). At this point in the trading day, the
bias remains positive, but one concern is that volume is not that strong.
However, the market
averages are positioned for follow-through rally attempts. Advancers are
outpacing decliners roughly 5 to 4, while up volume is outpacing down volume
approximately 3 to 1. The Nasdaq Adv/Dec 1927/1376. The
NYSE Adv/Dec is 1817/1236.
The Nasdaq Composite
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$COMPQ |
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also trending positive being pushed by the technology sector. Within the technology sector, semiconductor companies are among the better
performers, with the Philadelphia Semiconductor
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$SOX.X |
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rising 4.6%.
Chip equipment company Applied Materials
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AMAT |
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comments from Merrill Lynch analyst Brett Hodess. He said the company might post
better-than-expected earnings and revenue on Tuesday. Other
stocks in the SOX sector hit by the
ripple effect from the AMAT news are KLA-Tencor
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KLAC |
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NVLS |
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Maxim Integrated Products
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MXIM |
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XLNX |
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LLTC |
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The June S&P 500 futures
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SPM2 |
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pushing higher today, rallying above their 30-day moving average. For more
commentary on the June S&Ps, take a look at
Lewis Borsellino’s article.
General Motors
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GM |
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top of a triangle. GM has a
3-month relative strength rank of 83 from TradingMarkets.com.
Aetna
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AET |
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touched the 20-day MA and has broken through with a strong downside move.
This one is a little extended, but you may want to take a look at Cigna
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CI |
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in the same sector. CI has been forming reversal tails on the daily and
is forming a descending triangle at the lows (15-min. chart) intraday.
Take-Two Interactive
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TTWO |
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a triangle. TTWO holds a
3-month relative strength rank of 95 from TradingMarkets.com.
Compass Bancshares
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CBSS |
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from the recent high. CBSS is carrying a
3-month relative strength rank of 83 with an uptrending
ADX of 46 from TradingMarkets.com.
Brunswick
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BC |
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20-day moving average. BC is holding a
3-month relative strength rank of 87 from TradingMarkets.com.