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Equity Roundup: Bouncing, Energy Sector Leads

US STOCKS
Stocks rebounded off session lows into the London close, major indexes hovering around steady at midday w/ SPX emini futures ESM2 at 4120.5. E-Minis continue to trade inside its recent range and the current consolidation appears to be a bull flag. If correct, this reinforces short-term bullish conditions.
  • Attention is on the 50-day EMA, at 4178.95 today. A clear break of this average would strengthen a bullish outlook and open 4303.50, the Apr 26/28 high. Gains are still considered corrective and the primary trend direction is down. First support to watch is 3960.50, May 26 low.
  • SPX leading/lagging sectors: Energy sector outperforming (+1.89%) lead by O&G shares, followed by Information Technology (+0.19) and Health Care (+0.13%). Laggers: Consumer Discretionary (-1.33%) with retailers, particularly internet and direct marketing shares weaker: Etsy -3.20% at 81.15, Amazon -2.28% at 121.94, Ebay -1.67% at 46.86.
  • DJIA -43.38 (-0.13%) at 32872.42; Nasdaq -1.9 (0%) at 12059.24.
  • Dow Industrials Leaders/Laggers: While online retailers trade weaker, cloud-based software company Salesforce.com gains +4.01 at 186.88. Chevron bid (CVX) +2.59 at 179.42 after trading weaker Mon. Laggers: Home Depot (HD) -5.93 at 297.96, Walmart (WMT) -2.55 at 122.32.
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