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Late Equity Roundup, Energy, Consumer Disc, Materials Weighing

US STOCKS

Stocks weaker in late FI trade, near session lows as Energy, Consumer Discretionary and Materials sectors continue to underperform. Currently, SPX eminis trade -52.75 (-1.31%) at 3978.75; DJIA -355.96 (-1.11%) at 31755.75; Nasdaq -175.7 (-1.5%) at 11835.87.

  • Technicals: S&P E-Minis weakened further Monday, taking out the Monday low and resuming the recent bearish activity. This reinforces bearish conditions, with prices now well below the 50-day EMA at 4086.25. The breach of this pivot support strengthens the case for bears and signals scope for 3902.01 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: Financials -0.64%, followed by Health Care -0.77% and Consumer Staples -0.97%. Laggers: Tracking strong gains in Crude Monday, Energy sector recedes -3.73% (West Texas Crude -5.35 at 91.66), followed by Materials -1.67%, Consumer Discretionary (-1.66%) weighed by auto, and Industrials -1.56%.
  • Dow Industrials Leaders/Laggers: Nike (NKE) -0.16 at 107.72, JP Morgan (JPM) -0.21 at 114.18 and American Express (AXP) -0.25 at 154.29. Laggers: United Health (UNH) extends losses by -7.81 at 521.96, Caterpillar (CAT) -5.33 at 186.45, Chevron (CVX) -4.59 at 160.04.

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Stocks weaker in late FI trade, near session lows as Energy, Consumer Discretionary and Materials sectors continue to underperform. Currently, SPX eminis trade -52.75 (-1.31%) at 3978.75; DJIA -355.96 (-1.11%) at 31755.75; Nasdaq -175.7 (-1.5%) at 11835.87.

  • Technicals: S&P E-Minis weakened further Monday, taking out the Monday low and resuming the recent bearish activity. This reinforces bearish conditions, with prices now well below the 50-day EMA at 4086.25. The breach of this pivot support strengthens the case for bears and signals scope for 3902.01 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: Financials -0.64%, followed by Health Care -0.77% and Consumer Staples -0.97%. Laggers: Tracking strong gains in Crude Monday, Energy sector recedes -3.73% (West Texas Crude -5.35 at 91.66), followed by Materials -1.67%, Consumer Discretionary (-1.66%) weighed by auto, and Industrials -1.56%.
  • Dow Industrials Leaders/Laggers: Nike (NKE) -0.16 at 107.72, JP Morgan (JPM) -0.21 at 114.18 and American Express (AXP) -0.25 at 154.29. Laggers: United Health (UNH) extends losses by -7.81 at 521.96, Caterpillar (CAT) -5.33 at 186.45, Chevron (CVX) -4.59 at 160.04.