Market Alert - To the Close

Stocks remain lower indeed the indices are at session lows.

SP500 -15.35, -0.74%
NASDAQ -44.01, -0.90%
DJ30 -114.26, -0.64%
SP400 -1.11%
RUTX -0.97%
SOX -0.59%

SP500 is still over the 50 day SMA. RUTX is testing the 20 day EMA and April peak. SP400 is below the 20 day EMA and just under the April high. SOX is holding up easily over the 20 day EMA. DJ30 is below the 50 day SMA, above the 50 day EMA.

Down for sure and weaker to the close, but it is somewhat upside positive to see the action of SOX, RUTX. Not a surging rebound, but holding in the range we felt they would have to test. Now it is a matter of whether they can hold on.

Not any real new news for the afternoon, just a weaker dollar, still strong bonds (1.61% 10 year), Brexit worries. Plenty to worry about.

Picked up some FB puts early on, looking at some DIA, particularly if there is a little bounce toward the close. Likely a partial on that one given the indices are giving a hint they may try to hold support.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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