Will Naz Pass The Test?
Stocks are in decline today after
disappointing earnings news in the transportation and telecommunications sectors
added to growing concern that a recovery in the economy and corporate profits
won’t be as strong as investors had hoped.
In midday trading, the Dow Jones Industrial Average
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$INDU |
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down over 100 points to around 10150, after rising 52 on Friday. The Dow looks
like it is establishing intraday support at 10150. The intraday resistance level is at
10180 and secondary resistance is at 10214.50.
The Nasdaq Composite Index
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$COMPQ |
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sank over 40, or 2.2%, to around 1753 after slipping 6 points the previous
session. The Nasdaq has established a support level at 1750 on the
intraday chart and is looking to test that level. Overhead resistance is at 1762 and secondary resistance is at
1768.75 on the intraday.
The
June S&P 500 futures
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SPM2 |
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16 points today and is trading near the lows in the first half of trading.
Bond prices are mixed. In the currency
markets, the dollar has strengthened against the euro, but is lower against the
yen.
June gold
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GCM2 |
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higher, trading in positive territory today. It is just below its resistance
level of $305.00 an ounce. June gold is in a cup-and-handle pattern on the daily
chart. Gold is helping the Phlx Gold & Silver Index
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$XAU.X |
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well as some of the gold mining stocks trade higher, such as Anglogold
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AU |
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Gold
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ABX |
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NEM |
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PDG |
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trading positive this morning.
The Phlx Utility Sector
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$UTY.X |
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has been one of the stronger indexes the past couple of days and continues to
remain positive today. Some of the stronger stocks helping push the UTY are:
Duke Energy
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DUK |
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PowerRating), Southern Co.
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SO |
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(
EXC |
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Electric Power
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AEP |
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The Morgan Stanley Healthcare Index
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$HMO.X |
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continues to roll higher. Some of the stocks helping push the Healthcare
Index are Aetna
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AET |
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MME |
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Health Group
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FHCC |
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TGH |
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UNH |
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and Wellpoint Networks
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WLP |
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Direct Focus
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DFXI |
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is hitting an
all-time high after breaking out of its ascending triangle on strong volume.
DFXI has a
TradingMarkets.com
RS3 rating of 92 and an uptrending
ADX of 21.
Health Net
(
HNT |
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highs on strong volume. Health Net has broken out above its 27.55 resistance
level. Health Net is trading at 28.66, up .51.
Ball Corp.
(
BLL |
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20-day moving average. BLL has a
3-month relative strength rank of 95 along with an uptrending
ADX of 38 from TradingMarkets.com.
ATMI Inc.
(
ATMI |
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recent high. ATMI has a
3-month relative strength rank of 91 from TradingMarkets.com.
Ameristar Casinos
(
ASCA |
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PowerRating) is hitting an all-time high after breaking out of its ascending
triangle on strong volume. ASCA has a
TradingMarkets.com RS3 rating of 81 and an uptrending
ADX of 19.