Equity bulls struggling heading into the week

This shift in momentum on Friday leaves the market feeling vulnerable into Monday as well. Futures trading on Sunday evening and throughout premarket trade has the indices once again aiming for 100 day moving average support level in the S&P 500. It had fallen just short of testing this zone last week, which is a stronger level than the 50. The chances of a strong recovery off that level when it does hit, however, will be difficult.

S&P 500


The Dow Jones Industrial Average ($DJI) ended the day with a loss of 93.28 points, or 0.74%, and closed at 12,512.04 on Friday. Only two of the Dow's thirty index components posted a gain. They were Kraft Foods (KFT) (+0.69%) and Disney (DIS) (+0.29%). The weakest performers were Alcoa (AA) (-2.46%), JP Morgan Chase (JPM) (-1.98%), General Electric (GE) (-1.70%), and Pfizer (PFE) (-1.62%). The Dow ended the week lower by 0.66%.

The S&P 500 ($SPX) fell 10.33 points, or 0.77%, and closed at 1,333.27. The top percentage performer in the index was Salesforce.com (CRM) (+7.95%). It was followed by Akamai Tech. (AKAM) (+4.75%), Anadarko Pete. Corp. (APC) (+4.10%), and Range Res. Corp. (RRC) (+3.41%). Gap Inc. (GPS) (-17.48%) was the weakest performer following disappointing earnings. Other leading decliners included J.C. Penney (JCP) (-4.90%), SuperValu (SVU) (-4.82%), and VF Corp. (VFC) (-4.65%). The S&P 500 ended the week lower by 0.34%.

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