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Equity Roundup: Energy Sector Rebounds

US STOCKS

Stocks trading mixed, DJIA and SPX lagging Nasdaq, Communication Services and modest rebound in Energy shares help buoy the latter. Currently, SPX eminis trade -3.75 (-0.09%) at 3982.75; DJIA -57.18 (-0.18%) at 31733.7; Nasdaq +5.1 (0%) at 11887.69.

  • SPX leading/lagging sectors: Communication Services +1.11% (lead by media and entertainment w/ META +4.5%, Netflix +3.06%), followed by modest recover in Energy (+0.61%) with Marathon Oil (MRO) +1.56%, Haliburton (HAL) +1.38%. Laggers: Materials -0.47%, Consumer Discretionary -0.31% (autos and consumer durables lagging) and Industrials -0.16%.
  • Dow Industrials Leaders/Laggers: Amgen (AMGN) +2.92 at 242.04, United Health +2.01 at 524.85 and Microsoft (MSFT) +1.60 at 264.57. Laggers: Salesforce.Com (CRM) -1.69 at 157.98, Home Depot -1.33 at 291.77, Goldman Sachs (-1.64 at 331.99.
  • Technicals for SPX: Tuesday's sale reinforces current downtrend and price remains below the 50-day EMA at 4082.37. The recent break of this average- a pivot support - strengthens bearish conditions and attention is on 3902.01 next, a Fibonacci retracement. On the upside, initial firm resistance has been defined at 4217.25, the Aug 26 high. A break would ease the current bearish pressure.

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