Dow and S&P trade fractionally lower, while the Nasdaq
holds a tiny gain. Crude
oil futures trade lower by 1.25% to $57.62.
Monday's
market action gave us 3 consecutive lower intraday lows in the S&P 500 Index as
well as in the Nasdaq
(explanations below). This is a bullish signal telling us that
sellers may be done in the short term. It will be interesting
to see if we get more bullish signals today and through the week (click
here for more info).
Stocks on the
Move
Procter & Gamble (PG | news | PowerRating | PR Charts ) Q1 Profit Climbs On
Strong Sales Growth; EPS Tops Consensus By A Penny; Sees Q2 EPS In Line Or Below
Street View; Raises FY06 Outlook (full
story). PG shares are trading lower by 0.7%.
BJ Services (BJS | news | PowerRating | PR Charts ) Q4 EPS Surges On Top Line
Growth, Tops Consensus; Guides Q1, FY07 (full
story). BJS shares fall by over 4%.
IAC/InterActiveCorp
(IACI | news | PowerRating | PR Charts ) Q3 Profit Rises 10% On Top Line Growth; Adj. EPS Beats Analysts'
Forecast (full
story). IACI shares rise by over 3%.
Eastman Kodak (EK | news | PowerRating | PR Charts ) Q3 Loss Narrows On Cost
Saving Efforts, Faces Setback In Revenues (full
story). EK shares rise by 4.4%.
MetLife (MET | news | PowerRating | PR Charts ) Q3 Profit Up 34.6%, Operating
EPS Tops Consensus; To Resume Share Repurchase Program In Q4 (full
story). MET shares fall by over 2%.
Alcan (AL | news | PowerRating | PR Charts ) Q3 Profit Soars More Than Five
Fold On Higher Sales (full
story). AL shares trade higher by nearly 4%.
For more stories as they happen, go to our Breaking
News section.
Market Snapshot
|
Dow |
-9.53 |
12,076.97 |
|
NASDAQ |
+5.51 |
2,369.28 |
|
S&P 500
|
-1.03 |
1,376.90 |
|
|
NYSE |
NASDAQ |
|
Volume |
1,052,365,000 |
800,706,000 |
|
Advances |
1585 |
1389 |
|
Declines |
1498 |
1458 |
|
Up Volume |
447 |
471 |
|
Down Volume |
489 |
257 |
|
New Hi's |
167 |
120 |
|
New Lo's |
20 |
29 |
Strongest/Weakest Sectors
|
Strongest
Sectors |
Weakest
Sectors |
|
Amex Gold Bugs
Index (HUI) |
Nasdaq Transportation
Index (TRAN) |
| PHLX Gold and Silver Sector Index (XAU) |
Morgan Stanley Healthcare Payors Index (HMO) |
| GSTI Internet Index (GIN) |
Morgan Stanley Healthcare
Providers Index (RXH) |
Economic
News
Consumer
Confidence Inext 105.4 (Oct.) Vs. 105.9 (Sept.)
Q3 Employment
Cost Index - Up 1.0%
Darren Wong
darrenw@tradingmarkets.com
Use our
most
popular trading tool to find out how your stocks will move in the next 5
days.
3
Higher Highs In A Row and 3 Lower Lows In A Row- The same tactics
applied to 3 consecutive closes in the same direction apply here. 3 higher highs
identifies a market that is overbought, especially when its below its 200 day
ma. 3 consecutive lower lows is an excellent time to be looking for long
positions when the market is above its 200 and to be locking in short positions
when its below its 200 day.
