Equity Roundup: SPX One-Week Lows

Stocks little off recent session - and week lows in late morning trade, SPX eminis back to last Fri morning lvls at the moment, lead by Consumer Discretionary, Materials and Financial Sectors. Currently, SPX eminis trade -52.75 (-1.23%) at 4233; DJIA -272.26 (-0.8%) at 33724.2; Nasdaq -251.9 (-1.9%) at 12712.88.

• Technicals: Despite the day's sell-off, outlook remains bullish. Recent gains confirmed an extension of the positive price sequence of higher highs and higher lows. Moving average conditions are in a bull mode set-up too and the focus is on 4345.75 next, a Fibonacci projection and potentially 4400.00 further out. On the downside, initial firm support is at 4144.39, the 20-day EMA. A pullback would allow an overbought trend reading to unwind.
• Equity earnings cycle nearly complete, still some notable announcements next week: Nvidia (NVDA) late Wednesday $508 est, Dell late Thursday $1.636 est
• SPX leading/lagging sectors: Health Care sector takes the lead (+0.11%), followed by Utilities (-0.13%) and Energy (-0.15%) petroleum shares trading mixed after strong gains this week: Halliburton (HAL) -0.80% after gaining near 4% Thu, Marathon (MRO) -0.14 vs. +3.72% Thu; followed by Information Technology (+0.34%) and Utilities (+0.17%). Laggers: As noted, Consumer Discretionary (-2.14%), Materials (-2.08%) and Financial (-2.01) sectors underperforming. Real rates weigh on Tech Sector -1.73%.
• Dow Industrials Leaders/Laggers: United Health (UNH) +4.45 at 549.67, JNJ +2.66 at 169.43 and Merck (MRK +0.88 at 92.28. Laggers: Goldman Sachs (GS) -6.42 at 348.10, Salesforce (CRM) -5.89 at 182.04, Boeing (BA) -5.67 at 163.02.