Volume Picking Up…
Trading of 622 million shares on the New York
Stock Exchange was 21% more
than a week ago. About five stocks fell for every four that rose on the exchange
and the Nasdaq Stock Market.
Just past the mid-point of trade on the
first trading day of the week, the Dow Jones Industrial Average
(
$INDU |
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Standard & Poor’s 500 Index
(
$SPX.X |
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(
WMT |
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PowerRating)
said sales will lag its most optimistic forecast, sparking concern consumer
spending may slow.
The Dow lost 33.56, or 0.4%, to 8545.53 as of 12:40 p.m. ET.
The S&P 500 fell 2.81, or 0.3%, to 907.02. Wal-Mart contributed one-tenth
of the loss. The Nasdaq Composite Index
(
$COMPQ |
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PowerRating) rose 0.96, or 0.1%, to 1412.10.
AT&T
(
T |
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PowerRating) tumbled after a Lehman Brothers analyst said he expects the
largest US long-distance phone company to shut down or sell its consumer
business within two years.
Genesis Microchip
(
GNSS |
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PowerRating) is rallying
from a pullback from the high with increasing volume. GNSS broke above the
resistance at 18.00. GNSS has a
TradingMarkets.com RS3 rating of 98 and an up trending
ADX of 36. GNSS is trading at 18.05 up .88.
Avid Technology
(
AVID |
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PowerRating) is rising up
to a 52-week high as it is breaking out of a Bullish Pennant with increasing
volume.
AVID has a TradingMarkets.com RS3 rating of 94 and an up trending
ADX of 38. AVID is trading at 18.00 up 1.12.
Affymetrix
(
AFFX |
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PowerRating) is rallying up from
a pullback after testing the 20-day EMA. 27.50 was the resistance level, and
AFFX is trading slightly above that level with increasing volume. AFFX has a
TradingMarkets.com RS3 rating of 87 and an up trending
ADX of 30. AFFX is trading at 27.57 up.70.
Yahoo
(
YHOO |
Quote |
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PowerRating) is rallying to a 2-month
high, with increasing volume. YHOO is attempting to break above the 18.00
resistance level. YHOO has a
TradingMarkets.com RS3 rating of 92 and an up trending
ADX of 40. YHOO is trading at 17.86 up .41.
Nasdaq Market Breadth
Adv: 1449 UpVol: 5662558
Dec: 1645 DnVol: 2360378
Net: -196 Net: +3302180
NYSE Market Breadth
Adv: 1526 UpVol: 36386240
Dec: 1635 DnVol: 33294591
Net: -109 Net: +3091649