If Monday’s trading is was indication of what traders can expect during this holiday week, then the stock market is likely to be mild all week. The major equity index ETFs, for example, were little changed, with the ^QQQQ^ representing the Nasdaq 100 drifting higher into overbought territory above the 200-day moving average.
Among the better performing stocks of the S&P were ^AMZN^, up more than 3% and back in overbought territory above the 200-day moving average, and ^WMB^. Shares of WMB gained more than 2% in trading on Monday, following-through to the upside after a three-day pullback.
Here are 7 Stocks You Need to Know for Tuesday.
closing above its 200-day moving average for the first time since mid-May was ^KBH^ in Monday’s trading. The stock gained more than 5% on the day.
Pulling back by four out of the past five trading days, shares of ^BIDU^ (below) sold off by another 1% intraday on Monday before rallying to break even going into the close.
BIDU had pulled back to its most oversold levels in months back on Thursday. Monday’s selling took the stock below those levels on an intraday basis.
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Sellers remain on the offensive in shares of ^AXP^, which crossed below their 200-day moving average intraday in trading on Monday.
Down by more than 3% above its 200-day moving average ahead of trading on Tuesday were shares of ^AKAM^ (below).
Increasingly overbought conditions below the 200-day moving average helped bring out sellers in stocks as diverse as ^BA^ and ^ARO^.
After rallying for two days, shares of ^RIMM^ (below) are back on the retreat.
RIMM pulled back by more than 2%, crossing below its 200-day moving average intraday.
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David Penn is Editor in Chief of TradingMarkets.com