How The Market Reacted To Thursday’s News
The markets were scared in
earlier trade. US stocks fell, following worse-than-expected reports on
manufacturing, economic growth and joblessness. United Technologies
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UTX.X |
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and 3M
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MMM |
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INDU |
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lower, paring its biggest monthly gain in almost 16 years.
Stronger sectors on the day are: Apparel,
Telephone Equip, Waste Mgmt., Energy, Lodging, Homebuilding, and Software.
The weaker sectors belong to: Grocery, Aluminum, Managed Care, Biotech,
and Chip Equipment.
The S&P 500
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$SPX.X |
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chopping mode, moving in between 886 and 889. The 889/890 range is the 61.8%
retracement line drawn from the August high to the October low on the daily chart.
On the tech-driven Nasdaq
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$COMPQ |
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the overhead resistance line of 1333.61 is the 70.7% resistance line drawn from
the August high to the October low on the daily. Support is at 1326.
Pediatrix
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PDX |
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has broken out to hit six-month highs with very strong volume. PDX
has a
TradingMarkets.com RS3 of 83.
Coinstar
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CSTR |
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PowerRating) is trading higher
today after gapping up at the open with very strong volume. The daily chart of
Coinstar is an Island Reversal, which indicates a bullish move. CSTR has a
TradingMarkets.com RS3 rating of 83 and an up trending
ADX of 31.
Alltel
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AT |
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is rallying above its resistance level at 50 and is close to hitting a six-month
high. AT has a
TradingMarkets.com RS3 88 rating of and an up trending
ADX of 30.
CheckFree Corp
(
CKFR |
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PowerRating) is rallying from a pullback from the high. CKFR has a
TradingMarkets.com RS3 rating of 97.
Nasdaq Breadth:
Adv: 1552 UpVol: 5477014
Dec: 1467 DnVol: 3168243
Net: +85 Net: +2308771
NYSE Breadth
Adv: 1758 UpVol: 37785583
Dec: 1377 DnVol: 44426220
Net: +381 Net: -6640637