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Equity Roundup: Rebound After 50D EMA Support Breach on Mon

US STOCKS

Equity indexes trading firmer, well off overnight lows. Focus remains on latest earnings cycle that kicks off Wed, financials bulk of new releases: JP Morgan and BlackRock due Wed, before Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo follow.

  • SPX eminis currently +43.25 (0.98%) at 4452.0 after breaching 50D EMA support yesterday -- reinforcing a bearish threat where a move through 4400.00 signals scope for weakness towards 4362.63 next, a Fibonacci retracement. On the flipside, initial firm resistance has been established at 4519.75 (Apr 8 high) where a break would ease the bearish threat.
  • SPX leading/lagging sectors: Energy sector outperforming (+2.83%) lead by oil and gas names outpacing energy equipment makers. Consumer Discretionary next up (+1.43%) as autos and textiles/apparel and luxury names rebound.
  • Laggers: Financials sector lagging (+0.15%), banks underperforming ahead earnings cycle that kicks off Wednesday.
  • Meanwhile, Dow Industrials currently trade + 264.52 (0.77%) at 34571.75, Nasdaq +196.8 (1.5%) at 13608.06.
  • Dow Industrials Leaders/Laggers: Chevron (CVX) leading (+5.16 at 170.72) as oil rebounds, followed by Salesforce Inc (CRM) (+2.98 at 198.40) as US listed Asia names rebound. Pharma names lagging, Merck (MRK) -0.97 aty 85.64, Amgen (AMGN) -.68 at 250.22.

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