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Late Equity Roundup: Nearing Lows For Wk, No Month-End Support Yet

US STOCKS
About the time when things can get interesting: heading into last couple hours of month-end trade going into the weekend (not to mention more earnings next week, FOMC policy annc next Wednesday).
  • SPX eminis continue to extend session lows: ESM2 -109.0 (-2.56%) at 4174.25, below Thursday low, but still off late Tue low around 4138.0. Week’s lows reinforced bearish conditions and confirmed a resumption of the bear cycle w/ initial key support for SPX at 4136.75 Low Apr 26; next key support level at 4129.50 Low Mar 15.
  • Month-end factor: In the off chance of a reversal, initial resistance defined at 4303.50, Apr 26/28 high. A break of this hurdle would signal scope for a stronger corrective bounce and expose 4355.50, the Apr 18 low.
  • SPX leading/lagging sectors: Materials (-0.76%), Industrials (-1.49%) and Consumer Staples (-1.69%) underperforming the least at the moment.
  • Laggers: Consumer Discretionary (-5.34%) weighed down by weaker Amazon (AMZN, -14.23%), ETSY (-6.27%) and Expedia (-4.24%), buffered slightly by Autos (+0.55%) w/ Tesla leads +1.17%.
  • Meanwhile, Dow Industrials currently trades -582.67 points (-1.72%) at 33339.52, Nasdaq -384.5 points (-3%) at 12488.29.
  • Dow Industrials Leaders/Laggers: Honeywell (+6.71), Merck (+0.18). United Health Care leading laggers (-9.65).
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