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.



Market Snapshot

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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/Weakest Sectors

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Strongest
Sectors


Weakest
Sectors

Morgan Stanley Health Provider
Index (RXH)
Securities Broker
Dealer Index (XBD)
Morgan Stanley
Healthcare Index (HMO)
Nasdaq Combined
Transport Index (TRAN)
Pharmaceutical Index
(DRG)
Amex Gold Bugs Index (HUI)

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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