Tuesday’s Top Stocks From TradingMarkets
Both Diamonds Trust (DIA)
and Nasdaq-100 Index Tracking Stock (QQQ) closed poorly near the day’s low.
Volume was light but exceeded Friday’s level. As you can see, DIA fell below its
50-day SMA (simple moving average), and QQQ broke down below its extended bear
flag.
Semiconductor stocks and biotechnology issues were the biggest losers today.
Especially the latter, Biotechnology Index ($BTK.X) formed a bearish
engulfing bar at the 200-day SMA.
Now let’s see three stocks for Tuesday.
Internet HOLDRs (HHH): After failing to take out the 50-day SMA, the
issue gapped down at the open and closed below a channel on increased volume.
Look for a resumption of the downtrend.
S & P Depositary Receipts (SPY): The stock could not move above the
200-day SMA and finished poorly. Look for a resumption of the downtrend.
Gilead Sciences (GILD): Following a bearish tail, GILD sold off and
formed an engulfing bar. Look for a test of the lower boundary of a gap zone.
Good night and see you tomorrow.
Â