Leadership Needs Semis’ And Brokers’ Help

  • June 30, 2004
  • Kevin Haggerty

What Tuesday’s Action Tells
You

The SPX
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) ended the trading
session
as a narrow-range inside day and +0.3% to close at 1136.23. The range was
only
6.4 points, but it was trend-up above the opening as traders had
opportunity.
The Dow
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed at 10,413, +0.5%, the Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating)
2035,
+0.8%, and the
(
QQQ |
Quote |
Chart |
News |
PowerRating)s at 37.37, +1.0%.

NYSE volume was only 1.37 billion, with the
volume ratio at 56 and breadth +125. The 4 MA of the volume ratio was
neutral at
47 and the 4 MA of breadth just +65, so there is no lead information to get
from
any part of that. Today is the last day of the June report card and also the
FOMC at 2:15 p.m. ET.

In the sectors, technology and the cyclicals
were
green, led by the semis, with the
(
SMH |
Quote |
Chart |
News |
PowerRating) +1.8%, but for the past four
days
has been spinning wheels at +2.2%, -1.4%, +0.5%, -1.0% and +1.8% yesterday.
The
SMH closed at 37.54, still sitting below its 37.90 200-day EMA and the down
trendline from the 45.78 rally high, which is just above the 200-day EMA.
The
XLB (basic industry SPDR) was +1.4%, with chemicals like
(
DOW |
Quote |
Chart |
News |
PowerRating), +2.0%,
and
(
DD |
Quote |
Chart |
News |
PowerRating), +1.0%, having green days and leaving some daily chart setups for
today.

 25.5pt’>Thursday

6/24

 25.5pt’>Monday
6/28

style=’font-size:10.0pt;font-family:Arial;color:blue’>Index style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>  12.0pt’> 

style=’font-size:10.0pt;font-family:Arial;color:blue’>SPX style=’font-size:9.5pt;font-family:Arial’> 

 22’>  22’> 

style=’font-size:10.0pt;font-family:Arial;color:blue’>High style=’font-size:9.5pt;font-family:Arial’> 

 9.0pt’>1146.34 9.0pt’>1142.60

style=’font-size:10.0pt;font-family:Arial;color:blue’>Low style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>1139.94 12.0pt’>1131.62

style=’font-size:10.0pt;font-family:Arial;color:blue’>Close style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>1140.62 12.0pt’>1133.52

style=’font-size:10.0pt;font-family:Arial;color:blue’>% style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.3 12.0pt’>-.08

style=’font-size:10.0pt;font-family:Arial;color:blue’>Range style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>6.4 12.0pt’>11.0

style=’font-size:10.0pt;font-family:Arial;color:blue’>% Range style=’font-size:10.0pt;font-family:Arial;color:black’>  style=’font-size:9.5pt;font-family:Arial’>

 12.0pt’>11 12.0pt’>17

style=’font-size:10.0pt;font-family:Arial;color:blue’>INDU style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>10444 12.0pt’>10358

style=’font-size:10.0pt;font-family:Arial;color:blue’>% style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.3 12.0pt’>-0.1

style=’font-size:10.0pt;font-family:Arial;color:blue’>Nasdaq style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>2016 12.0pt’>2020

style=’font-size:10.0pt;font-family:Arial;color:blue’>% style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.3 12.0pt’>-0.3

style=’font-size:10.0pt;font-family:Arial;color:blue’>QQQ style=’font-size:9.5pt;font-family:Arial’> 

 13.5pt’>37.05 13.5pt’>37.02

style=’font-size:10.0pt;font-family:Arial;color:blue’>% style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.2 12.0pt’>-0.8

style=’font-size:10.0pt;font-family:Arial;color:blue’>NYSE style=’font-size:9.5pt;font-family:Arial’> 

 12.75pt’>  12.75pt’> 

style=’font-size:10.0pt;font-family:Arial;color:blue’>T. VOL style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>1.40 12.0pt’>1.35

style=’font-size:10.0pt;font-family:Arial;color:blue’>U. VOL style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>601 12.0pt’>561

style=’font-size:10.0pt;font-family:Arial;color:blue’>D. VOL style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>780 12.0pt’>768

style=’font-size:10.0pt;font-family:Arial;color:blue’>VR style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>43 12.0pt’>42

style=’font-size:10.0pt;font-family:Arial;color:blue’>4 MA style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>57 12.0pt’>52

style=’font-size:10.0pt;font-family:Arial;color:blue’>5 RSI style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>60 12.0pt’>46

style=’font-size:10.0pt;font-family:Arial;color:blue’>ADV style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>1695 12.0pt’>1496

style=’font-size:10.0pt;font-family:Arial;color:blue’>DEC style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>1596 12.0pt’>1778

style=’font-size:10.0pt;font-family:Arial;color:blue’>A-D style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>+99 12.0pt’>-282

style=’font-size:10.0pt;font-family:Arial;color:blue’>4 MA style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>+383 12.0pt’>+357

style=’font-size:10.0pt;font-family:Arial;color:blue’>SECTORS style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>  12.0pt’> 

style=’font-size:10.0pt;font-family:Arial;color:blue’>SMH style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-1.4 12.0pt’>-1.0

style=’font-size:10.0pt;font-family:Arial;color:blue’>BKX style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-.05 12.0pt’>+0.1

style=’font-size:10.0pt;font-family:Arial;color:blue’>XBD style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>+0.9 12.0pt’>-0.7

style=’font-size:10.0pt;font-family:Arial;color:blue’>RTH style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.4 12.0pt’>-0.1

style=’font-size:10.0pt;font-family:Arial;color:blue’>CYC style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-0.4 12.0pt’>-1.0

style=’font-size:10.0pt;font-family:Arial;color:blue’>PPH style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-.09 12.0pt’>-0.2

style=’font-size:10.0pt;font-family:Arial;color:blue’>OIH style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>-1.2 12.0pt’>-1.9

style=’font-size:10.0pt;font-family:Arial;color:blue’>BBH style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>+0.6 12.0pt’>-0.3

style=’font-size:10.0pt;font-family:Arial;color:blue’>TLT style=’font-size:9.5pt;font-family:Arial’> 

 12.0pt’>+0.6 12.0pt’>-1.0

.75pt’>XAU style=’font-size:9.5pt;font-family:Arial’> 

 .75pt’>+2.2 .75pt’>-2.7
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