Stocks Start the Week Lower
After moving lower in early
trading, the U.S. stock markets have seen some further downside
over the course of the trading session on Monday. The major
averages have all moved into negative territory, extending the
steep downward move that was seen Friday afternoon.
Our
PowerRatings
Heat Maps*
have been pointing towards a move lower in the overall markets
with resource/energy stocks showing the most weakness. It
will be interesting to see what signals we get today.Â
Click here for a free trial to our PowerRatings Heat Maps.
The price of oil moved
sharply lower during trading on Monday, as traders reacted to
comments from Saudi Arabia’s Oil Minister. After closing higher in
the two previous sessions, crude for March delivery closed down
$2.08 at $57.91 a barrel.
After closing higher in the
two previous sessions, the price of gold moved back to the
downside during trading on Monday. Gold for April delivery closed
down $5 at $667.30 an ounce after ending Friday’s trading at its
best closing level in over six months.
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
Stocks Up 10% or More. Historically proven edges make
these a great place to start making a watch list.Â
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com