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Nasdaq leads the indices to the downside giving up 1.3% on the day. Crude oil futures close fractionally lower to $58.71.
Tuesday's market action gave us 3 consecutive lower intraday lows in the S&P 500 Index (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).
Marsh & McLennan Q3 (MMC | Quote | Chart | News | PowerRating) Profit Rises On Higher Revenues, Less Expenses (full story). MMC shares rise by 3.25%.
CVS (CVS | Quote | Chart | News | PowerRating) In Talks To Buy Caremark (CMX | Quote | Chart | News | PowerRating) (full story). CVS and CMX shares fall by 7% and 2%.
Patterson-Uti Energy (PTEN | Quote | Chart | News | PowerRating) Q3 Profit Jumps 75%, Revenues Up 44% (full story). PTEN shares close lower by over 0.5%.
NVIDIA (NVDA | Quote | Chart | News | PowerRating) Finds Accounting Errors; Sees Up To $150 Mln In Charges; Stock Down (full story). NVDA shares drop nearly 8%.
Beckman Coulter (BEC | Quote | Chart | News | PowerRating) Q3 Profit Rises On Gain; Reiterates FY06 Outlook (full story). BEC shares rise by over 3%.
MasterCard (MA | Quote | Chart | News | PowerRating) Q3 Profit Vaults On 14% Top Line Growth, Fall In Expenses (full story). MA shares jump by over 14%.
Ford (F | Quote | Chart | News | PowerRating) October U.S. Sales Up 8.1% (full story). F shares finish higher by nearly 3%.
For more stories as they happen, go to our Breaking News section.
|
Dow |
-50.91 |
12,031.02 |
|
NASDAQ |
-32.36 |
2,334.35 |
|
S&P 500 |
-10.13 | 1,367.81 |
|
NYSE |
NASDAQ | |
|
Volume |
2,816,678,000 |
2,000,110,000 |
|
Advances |
1138 |
806 |
|
Declines |
2117 |
2273 |
|
Up Volume |
560 |
310 |
|
Down Volume |
2016 |
1534 |
|
New Hi's |
237 |
108 |
|
New Lo's |
22 |
50 |
|
Strongest Sectors |
Weakest Sectors |
|
Amex Gold Bugs Index (HUI) |
Nasdaq Other Finance Index (OFINX) |
| S&P Chemicals Index (CEX) | Amex Disk Drive Index (DDX) |
| PHLX Utility Sector Index (UTY) | Amex Securities Broker Dealer Index (XBD) |
Gasoline Inventories Down 2.8 Mln. Barrels
Crude Inventories Up 2 Mln. Barrels
Distillate Stocks Down 2.7 Mln. Barrels
September Pending Home Sales Down 1.1%
Oct. ISM Index 51.2%; Sept. Construction Spending Down 0.3%
Oct. ISM Prices Paid 47.0 Vs. 61.0 (Sept.)
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.
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