Equity Roundup: China ANT No Help, Tesla Boosts Autos

Stocks weaker after a firmer open, SPX eminis inching off modest lows early in the second half (ESM2 -13.25 (-0.32%) at 4101). Appeared to be some modest carry-over bid on rumors China would revive Alibaba's ANT IPO. Didn't last long, however, SPX traded lower after China denied they were working on restructuring the company.

• Technicals: still largely range bound with ESM2 -27.0 at 4089.0, current sideways move appears to be a bull flag, reinforcing short-term bullish conditions.
  
• Attention is on the 50-day EMA, at 4178.11 today, a clear break of which would strengthen a bullish outlook and open 4303.50, the Apr 26/28 high. Gains are still considered corrective however and the primary trend direction is down. First support to watch is 3960.50, May 26 low.
• SPX leading/lagging sectors: Consumer Staples (+0.16%) and Consumer Discretionary (+0.13%), the latter with autos sector firmer mostly due to Tesla trading +2.01 at 740.20. Laggers: Energy (-1.04%) and Materials (-0.87%) followed by Financials (-0.85%) with carry-over weakness in Banks.
• DJIA -71.11 (-0.22%) at 32842.95; Nasdaq -56.7 (-0.5%) at 12030.36.
• Dow Industrials Leaders/Laggers: Home Depot (HD) +6.75 at 304.28, Salesforce.com (CRM) +2.11 at 191.30. Laggers: Goldman Sachs (GS) -5.53 at 309.15, Caterpillar (CAT) -3.53 at 226.27, Boeing (BA) -3.28 at 136.35