Which Two Lead The Way?
After having the Monday trading session closed
due to the Martin Luther King Jr. holiday, the Nasdaq Composite Index fell for
the third day in four on investor concerns that technology shares are expensive
due to the sluggish economy and expectations for a decline in corporate earnings
this quarter.
Microsoft
(
MSFT |
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PowerRating) and Intel
(
INTC |
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PowerRating), the biggest makers of
computer software and semiconductors, led the S&P 500 lower. Wal-Mart Stores
(
WMT |
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PowerRating) are higher today after the news that its smaller rival Kmart
(
KM |
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PowerRating)
filed for bankruptcy protection.
The Nasdaq
(
$COMPQ |
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Chart |
News |
PowerRating) is lower this hour, down 34.51 to 1895.83. The
S&P 500
(
$SPX |
Quote |
Chart |
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PowerRating), also dropping for a third time in four sessions,
is down 4.03 to 1123.55, and the Dow Jones Industrial Average
(
$INDU |
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PowerRating),
which was lifted by Wal-Mart, is now falling to 9758.63, down 13.22.
Argosy Gaming
(
AGY |
Quote |
Chart |
News |
PowerRating) is rallying to new
highs on strong volume. Argosy Gaming is one of the stocks on the TradingMarkets.com
Proprietary Momentum List and AGY has a 3-month
relative strength ranking of 91.
Rent-A-Center
(
RCII |
Quote |
Chart |
News |
PowerRating) is close to
hitting its resistance at 40. Look for stronger volume on a break above 40. Rent-A-Center
has a 3-month
relative strength ranking of 97. RCII is one of the stocks on the TradingMarkets.com
Proprietary Momentum List.
Circuit City
(
CC |
Quote |
Chart |
News |
PowerRating) has tried to break
out above its resistance at 30, but is pulling back from its highs. CC has a 3-month
relative strength ranking of 98.
Shares of Reebok
(
RBK |
Quote |
Chart |
News |
PowerRating) are higher
today on very strong volume. Reebok has broken out of a cup-and-handle pattern
on a daily chart. Reebok has a 3-month
relative strength ranking of 83.
MRO Software
(
MROI |
Quote |
Chart |
News |
PowerRating) is hitting
all-time highs with double volume. MROI has a 3-month
relative strength ranking of 99.
Med-Design [MEDC|MEDC] has broken above
its resistance of 25 with increasing volume. The 3-month
relative strength ranking on MEDC is 97.
Bench Mark Electronics
(
BHE |
Quote |
Chart |
News |
PowerRating) is
trading around its support line at 24. Volume is stronger and the 3-month
relative strength ranking is 95.
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