Equity Roundup: Off 2W Lows, Autos Outperforming

Stock indexes mildly higher after extending lows for the week overnight, Consumer Discretionary outperforming w/ autos leading the sector. Currently, SPX eminis trade +22 (0.53%) at 4152.5; DJIA +135.28 (0.41%) at 33044.16; Nasdaq +104.5 (0.8%) at 12484.81.

• Technicals for SPX Sep futures: A corrective cycle remains in play in the S&P E-Minis contract, signaling scope for a deeper pullback near-term. This is allowing an overbought reading in momentum studies to unwind. The 20-day EMA has been breached and attention is on the 50-day EMA, at 4082.81 - a key pivot support. Key resistance and the bull trigger is at 4327.50, the Aug 16 high. Initial resistance is at 4221.50, Monday’s high.
• Notable earnings annc's after today's close: Salesforce.com (CRM) $1.028 est and Nvidia (NVDA) $0.532 est, Dell late Thursday $1.636 est.
• SPX leading/lagging sectors: As noted Consumer Discretionary outperforms (+1.35%) lead by autos (GM +2.84%, Ford +2.06% outpacing Tesla +1.8%), Communication Services (+1.07%) w/ media and entertainment leading: Warner Bros (WBD) +4.89%, Netflix (NFLX) +4.08%. Laggers: After leading since Friday, Energy sector underperforming (+0.15%) followed by Utilities (+0.21%) and Information Tech (+0.36%).
• Dow Industrials Leaders/Laggers: Salesforce.Com (CRM) +4.64 at 180.64, Boeing (BA) +3.93 at 164.00, Goldman Sachs (GS) +3.83 at 344.01. Laggers: seeing some profit taking after strong rally Tuesday, Caterpillar (CAT) -0.91 at 196.30, Chevron (CVX) -0.94 at 161.05, IBM -0.73 at 134.01.