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Equity Roundup: Off Lows, Eyes on 50-Day EMA Resistance

US STOCKS

SPX eminis trading mildly weaker heading into midday - after trading above the 50-day EMA of 4190.56 overnight (4202.25 high), SPX Jun futures bouncing off lows ahead midday, currently -5.25 (-0.09%) at 4150.5.

  • A clear break of the 50-D EMA would strengthen current bullish conditions and signal potential for a climb towards a key resistance at 4303.50, the Apr 26/28 high. That said, the recent rebound is still considered corrective and the primary trend is down. A reversal lower would refocus attention on the bear trigger 3807.50.
  • SPX leading/lagging sectors: Energy leads (+1.30%) w/O&G outperforming energy equipment and servicers. Consumer Discretionary seeing continued support (+1.12%) w/ component mfgs outpacing autos. Laggers: Real Estate (-1.26) unwinding portion of Fri's strength, Health Care (-1.17%) as biotech and pharmaceuticals underperform.
  • DJIA -71.41 (-0.22%) at 33139.69; Nasdaq -33.4 (0.3%) at 12163.94.
  • Dow Industrials Leaders/Laggers: Nike (NKE) +2.39 at 118.38, Walmart (WMT) +1.12 at 129.60, JPM +0.98 at 132.25. Laggers: United Health Care (UNH) -7.29 at 499.82, Home Depot (HD) -3.85 at 304.61.

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