The Longest Winning Streak In Two Years…
Even with today’s drop, the S&P 500 is headed toward a fifth straight weekly
gain. This is the longest winning streak in two years. For the week, the S&P 500
has climbed 2.1%, the Dow 1.7% and the Nasdaq 2.5%. At the mid session, U.S. stocks are falling to
new session lows, cutting into the benchmark indexes’ weekly gains.
The S&P 500
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(944) and is off 1.5%. Citigroup
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and Intel
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The Dow Jones Industrial Average
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has dipped over 140 points or 1.5%. Volume is lower than
yesterday’s levels: The NYSE is 24% lower than this time yesterday. Decliners
are leading advancers by a 2-to-1 margin.
The Nasdaq Composite Index
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is a loser by about 1.9%. Volume is off about 22% from yesterday’s volume
at this time. Decliners are leading advancers by 2-to-1.
Not many sectors are showing positive strength
today. Food stocks and REITs are the only positive sectors thus far. Weaker
sectors straining the market are: Semiconductors
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Equipment, Banks
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Tobacco, Retail, Biotech
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and Oil Services
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October crude oil
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$30 a barrel price earlier this week due to fears of a US invasion of Iraq. The talk of
invasion is cooling and this is bringing the October
crude prices lower. The decline in crude prices is putting pressure on the
Amex Oil Index
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Neoware System
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NWRE |
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all-time highs today with increasing volume. NWRE has a
TradingMarkets.com RS3 rating of 99.
Guidant
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chart.
NASDAQ Breadth
Adv: 985 UpVol: 13586531
Dec: 2129 DnVol: 63188970
Net: -1144 Net: -49602439
NYSE Breadth
Adv: 1022 UpVol: 9176270
Dec: 2074 DnVol: 51451562
Net: -1052 Net: -42275292