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Equity Roundup: Little Headway, Trades Mixed

US STOCKS

Inside range for stocks, see-sawing around steady: SPX eminis marginally higher w/ ESU2 trading at 3918.0 (+1.75); DJIA +47.78 (0.15%) at 31500.68; Nasdaq -41.4 (-0.4%) at 11607.62.

  • Technicals: S&P E-Minis confirming an extension of the current bullish corrective cycle after trading higher Friday. The contract has traded above the 20-day EMA and this signal scope for a climb towards the 50-day EMA, currently at 4042.61.
  • The primary trend direction remains down though and a reversal lower would signal the end of the correction. This would also refocus attention on the bear trigger at 3639.00, the Jun 17 low.
  • SPX leading/lagging sectors: Energy sector outperforming (+2.57%) (Valero Energy and Devon Energy corps both +6.12%); Utilities (+0.85%) followed by Real Estate (+0.59%). Laggers: Communication Services (-1.07%) followed by Materials (-0.77%) and Consumer Discretionary (-0.63%).
  • Dow Industrials Leaders/Laggers: United Health (UNH) surges +13.50 to 509.14 after paring gains last Friday. Chevron (CVX) a distant second gains 2.42 at 147.19.
  • Laggers: SalesForce.Com (CRM) -4.53 at 181.39, Boeing (BA) -4.05 at 137.48 followed by Goldman Sachs (GS) -2.54 at 300.21.
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