Equity Roundup, Carry-Over Weakness in IT, Consumer Discretionary

Carry-over weakness in stocks, low end narrow range heading into midday, Information Technology and Consumer Discretionary shares weighing. Currently, SPX eminis trade -35 (-0.86%) at 4024.5; DJIA -230.03 (-0.71%) at 32055.45; Nasdaq -150.5 (-1.2%) at 11992.23.

• Technicals for SPX Sep futures: S&P E-Minis stalled at Friday’s 4217.25 high. The impulsive sell-off reinforces bearish conditions and has resulted in a clear break of the 50-day EMA, at 4088.49. The breach of this pivot support strengthens the case for bears and signals scope for weakness towards 3983.25 next, a Fibonacci retracement. On the upside, initial firm resistance has been defined at 4217.25. A break would ease the current bearish pressure.
• SPX leading/lagging sectors: Energy sector shares outperforming with crude making nice gains (WTI +2.50 at 95.56) +2.16%, Utilities +0.28%. Laggers: Information Technology -1.40%, Consumer Discretionary -0.91%, and Financials (-0.82%).
• Dow Industrials Leaders/Laggers: Chevron (CVX) +1.37 at 164.78, Walmart (WMT) +0.58 at 132.18. Laggers: continued weakness for Microsoft (MSFT) -4.07 at 264.02, Apple (AAPL) -3.72 at 159.92, 3M (MMM) -3.06 at 126.08.