NASDAQ is about the only indices, okay the only index, hanging onto support. SP500, DJ30 are below the 50 day MA's and SOX has not recovered any ground. RUTX, SP400 are dragging lower as well. At least some of the small biotechs are still strong or look good, e.g. CNAT, XOMA, IMMU, INVA. That is about all, however. Materials, metals, other economic expansion areas are struggling.
SP500 -10.07, -0.43%
NASDAQ -16.74, -0.28%
DJ30 -86.73, -0.43%
We picked up some IWM to have some more downside exposure. AMD is a possibility before the close. Looking at closing SN, WFT in oil; PIR is coming off the lows and the prior low but it is not a powerful move. CX is dogging it along with other materials.
Long weekend and with so many worried about the economic future and geopolitical issues, there are those lightening up. Don't like selling or buying that much in this situation, but the mentioned stocks are not looking healthy.
Jon Johnson, Chief Market Strategist
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