Market Alert - Last Hour

The stock indices are off the highs notched shortly after the open but are all holding gains. While many sectors are higher, the same leaders are posting the best gains, e.g. metals, financial. Small and midcaps lead the move though NASDAQ is solid thanks to the FAANG. Energy is mixed; we picked up some HFC and it is up.

SP500 12.31, 0.56%
NASDAQ 50.34, 0.97%
DJ30 44.18, 0.23%
SP400 1.05%
RUTX 1.60%
SOX 1.16%

The stock indices hit a session low mid-afternoon and rebounded to the last hour. Trying to continue to gain back some lost ground after a short test of the afternoon rebound.

Watching LGCY though it is off its session high and still looks soft here in the last hour. KIRK in retail is holding a gain though volume remains rather light. FB has bounced off its double bottom but its volume remains light-ish as well. Finally GNRC is bouncing off its test; low volume as well.

RUTX and SP400 have rather classic bounces off of the week-long test back to the 10 day EMA. NASDAQ and SOX still look as if they are trying to do the best they can with what they have in terms of their patterns. Thus it looks as if, based upon this initial move, is that the same leaders are getting the money, perhaps some new money is working as some techs are stronger, but overall the same sectors are favored.





Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm


Customer Support: http://investmenthouse.com/contact_us.php