Late Equity Roundup: Fresh Lows in Late Trade, Energy Still Weighing

Stock indexes continue to extend sell-off, SPX close to breaching mid-June low (3636.87) which would put focus on early Jan 2021 levels. Energy sector still weighing heavily on indexes, Materials and Consumer Discretionary distant second and third underperformers. Currently, SPX eminis trade - 96 (-2.55%) at 3677; DJIA -708.97 (-2.36%) at 29371.98; Nasdaq -287.7 (-2.6%) at 10781.06.

• S&P E-Minis have gone from weak to weaker, with the downside accelerating on the break of July support. Continued weakness here has confirmed a resumption of the bear cycle that started mid-August. The break lower strengthens bearish conditions and note that support at 3741.75, Jul 14 low, has been breached. This exposes critical support at 3657.00, Jun 17 low.
• SPX leading/lagging sectors: Health Care shares outperform Fri (-1.51%) lead by pharmaceuticals and biotech for second consecutive session, next up: Real Estate (-1.95%) and Utilities sectors (-2.04%). Laggers: Energy sector hammered (-7.22%) lead by oil shares as crude levels fell (WTI -5.07 at 78.43 - appr Jan'21 lows): Marathon (MRO) -11.08%, Halliburton (HAL) -9.92%, Hess (HE) -9.57%. Next up: Materials (-3.31%), Consumer Discretionary (-3.27%) autos weighing on the latter GM -5.70%, Ford -5.25%, Tesla -4.36%.
• Dow Industrials Leaders/Laggers: JNJ +0.41 at 166.62 Home Depot (HD) +0.46 at 269.60, Verizon (VZ) -0.54 at 39.39. Laggers: Goldman Sachs (GS) -13.30 at 299.62, Chevron (CVX) -9.94 at 144.95, Boeing (BA) -8.01 at 130.07.