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Late Equity Roundup: Another Attempt To Bounce Of Lows

US STOCKS

Major indexes still weaker are bouncing off late session lows after the FI close.
SPX emini futures currently -12.5 (-0.32%) at 3917.5, Dow Industrials -163.75 points (-0.51%) at 31671.33, Nasdaq -26.3 points (-0.2%) at 11338.17.

  • Current bear cycle continues: 20- and 50D EMA set-up - is in a bear mode condition and this clearly highlights current market sentiment. Initial key support for SPX is 3815.20 - 38.2% retracement of the Mar ‘20 - Jan ‘22 bull leg. On the upside, key resistance has been defined at 4303.50, the Apr 26/28 high.
  • SPX leading/lagging sectors: Health Care and Real Estate sectors, both appr +.40%, outpaced Consumer Discretionary (+37%). Communication Services receded (-0.12%) as interactive media sagged (Twitter, Google, Activision weaker)
  • Laggers: Information Technology sector (-1.99%) weighed down by hardware makers/servicers, followed by Utilities (-1.20%) and Financials (-1.16%).
  • Dow Industrials Leaders/Laggers: After trading weaker Home Depot (HD) finally catches a bid (+4.67 at 287.63), Amgen +3.20 at 243.83. United Health Care (UNH) reverses Wed's gains, currently -11.15 at 475.00, American Express (AXP) -7.36 at 152.03, Boeing (BA) -7.56 at 151.82.
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