These Two Lead The Way
General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) and Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating), the two largest companies by market value, lifted the Standard
& Poor’s 500 Index
(
$SPX |
Quote |
Chart |
News |
PowerRating) to its third gain in four days. Almost 75%
of the S&P 500 members are positive on the day. The March S&P 500
(
SPH2 |
Quote |
Chart |
News |
PowerRating) have hit the R2 Pivot Point at 1122.97 and is trading just below
that point.
The Nasdaq Composite
(
$COMPQ |
Quote |
Chart |
News |
PowerRating)
gapped open higher this morning and hit its highs of the day 1793.73 at around
10:40 AM and is now slightly lower.
The Dow
(
$INDU |
Quote |
Chart |
News |
PowerRating) continues top trade
in positive territory with triple-digit gains.
The Morgan Stanley Consumer Index
(
$CMR.X |
Quote |
Chart |
News |
PowerRating)
continues to push higher, moving closer to its highs of last Feb. 2001.
Stocks that are pushing the Consumer Index, are: American International Group
(
AIG |
Quote |
Chart |
News |
PowerRating), Cocoa-Cola
(
KO |
Quote |
Chart |
News |
PowerRating), Grainger
(
GWW |
Quote |
Chart |
News |
PowerRating), Medtronic
(
MDT |
Quote |
Chart |
News |
PowerRating) and Merck
(
MRK |
Quote |
Chart |
News |
PowerRating). The CMR is 589.61 up 1.86.
The PHLX Semiconductor Sector
Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) is trending higher today. The
resistance level is at 13.40 and the support is at 12.00. Stocks helping move
the SOX are: Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating), Novellus Systems [NVLS|NVLS|NVLS],
Micron Technology
(
MU |
Quote |
Chart |
News |
PowerRating) and Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating). The SOX is
trading at 542.78 up 8.12.
The PHLX Forest & Paper Products Sector
(
$FPP.X |
Quote |
Chart |
News |
PowerRating)
is breaking above its early Sept. 2001 highs. Stocks helping push the FPP are:
Weyerhaeuser
(
WY |
Quote |
Chart |
News |
PowerRating), Temple Inland
(
TIN |
Quote |
Chart |
News |
PowerRating), Bowater
(
BOW |
Quote |
Chart |
News |
PowerRating) and
Georgia Pacific
(
GP |
Quote |
Chart |
News |
PowerRating). The FPP index is trading at 359.68 up 4.11.
The Morgan Stanley Cyclical Index
(
CYC |
Quote |
Chart |
News |
PowerRating)
has been climbing for the last couple of days and is up again this morning
at 570.79 up 4.28. Stocks helping push the CYC are: Honeywell
(
HON |
Quote |
Chart |
News |
PowerRating),
Phelps Dodge
(
PD |
Quote |
Chart |
News |
PowerRating), United Technologies
(
UTX |
Quote |
Chart |
News |
PowerRating) and Whirlpool
(
WHR |
Quote |
Chart |
News |
PowerRating).
Cognos
(
COGN |
Quote |
Chart |
News |
PowerRating)
is rallying from a pull back from the high. Cognos has a
TradingMarkets.com RS3 rating of 83 and an up trending
ADX of 31.
April COMEX
gold futures
(
CGJN |
Quote |
Chart |
News |
PowerRating) had a nice move yesterday as well as the gold stocks.
Rumors (later determined unfounded) that U.S. troops were in Iraq helped to
boost gold. Look for higher volatility in the near term. Today’s Pivot points
for April gold are 296.57; R1 300.13, R2 302.07, S1 294.63, S2 291.07. Gold also
will influence the PHLX Gold & Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), Anglogold
(
AU |
Quote |
Chart |
News |
PowerRating), Barrick Gold
(
ABX |
Quote |
Chart |
News |
PowerRating), and Newmont Mining
(
NEM |
Quote |
Chart |
News |
PowerRating).