TradingMarkets Mid-Day Movers
Weak consumer confidence report hints at economic
slowdown ahead; Dow and S&P lower by 0.4%, while Nasdaq moves lower by 0.6%.Crude oil futures
continue to move lower down by
0.6% to $69.83.
Monday’s
market action continued to trigger a bearish VIX alert and CVR 2,6 sell signals on the NASDAQ
(explanations below). There was also a 10-day high alert triggered on the
SPX, which historically has been a bearish sign. It will be interesting to see if we get more
bearish signals today/this week on the SPX, as it has been
vacillating around the 1300 level for the past 9-days (click
here for more info).
href=”https://tradingmarkets.com.site/news/Stock%20Alert/”>
Stocks on the
Move
Boeing announces share buyback of up to $3
billion. BA shares trading lower through the morning session by 1%.
Restoration Hardware Swings To A Profit In Q2,
Revenue Up 24%; Boosts FY06 Sales And Margin Outlook (full
story). RSTO shares jump by over 14%.
Prudential Equity Group To Pay $600Mln To
Resolve Mutual-fund Trading Dispute (full
story). PRU shares are trading fractionally lower this morning.
Steel Dynamics To Repurchase 5 Mln Shares;
Backs Q3 EPS Forecast (full
story). STLD shares trade up by 2.5%.
Teva Settles Patent Infringement Litigation On
Generic OxyContin (full
story). TEVA shares are trading fractionally lower through the
morning.
For more stories as they happen, go to our href=”https://tradingmarkets.com.site/news/Breaking%20News/”>Breaking
News section.
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Dow
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-42.74
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11,309.27
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NASDAQ
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-15.41
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2,145.29
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S&P 500
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-6.12
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1,295.66
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size=2>NYSE
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size=2>NASDAQ
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Volume
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787,767,000
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581,185,000
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Advances
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1390
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1153
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Declines
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1694
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1608
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Up Volume
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295
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157
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Down Volume
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391
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369
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New Hi’s
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89
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48
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New Lo’s
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29
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28
Strongest
Sectors
Weakest
Sectors
Index (RXH)
Dealer Index (XBD)
Healthcare Index (HMO)
Transport Index (TRAN)
(DRG)
href=”https://tradingmarkets.com.site/news/Economic%20News/”>
Economic
News
Consumer Confidence Shows Significant Deterioration In August
(full
story).
Helvetica>
Darren Wong
darrenw@tradingmarkets.com
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Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
10 Day High Alert-This
is an alert that the market has hit a 10 day new high intra-day today.
Historically this has meant that when the market is above its 200-day simple ma,
little progress has been seen over the next 2-5 days (on average) as the market
is either overbought or nearing overbought conditions. It’s a good place to be
taking profits. When the market is below its 200 day ma and the market hits a
new 10 day high, it has been, on average, a good place to be looking to put on
short positions.
VIX Alert: This Alert triggers when the VIX is
5% above or below its 10-day SMA. 5% below usually precedes a quiet/down market.
5% above many times precedes a short-term rally.
CVR Signals: These are 14 signals using studies on the VIX. Multiple CVR
signals are the strongest (2 is good, 3 or more are better). And, a CVR 3 signal
is also usually a strong signal.
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