Stock indexes showing cracks in rally

Index Wrap-up

The Dow Jones Industrial Average ($DJI) ended the day on Monday with a loss of 11.66 points, or 0.709%, and closed at 12,708.82. Fewer than half of the Dow's thirty index components posted a gain. The strongest performers were Bank of America (BAC) (+2.55%), Hewlett-Packard (HPQ) (+1.96%), and Intel (INTC) (+1.25%). The losers were Travelers (TRV) (-2.11%), Procter & Gamble (PG) (-1.86%), and Verizon (VZ) (-1.46%).

The S&P 500 ($SPX) finished the session with a gain of 0.62 points, or 0.05%, and closed at 1,316.00. The top performing industry groups were energy (+0.7%) and technology (+0.4%), while telecoms (-0.8%) and health care (-0.5%) were the weakest. The top individual percentage performers were Southwestern Energy (SWN) (+10.30%), Range Res. Corp. (RRC) (+9.22%), and EQT Corp. (EQT) (+8.27%). The top decliners were Netflix (NFLX) (-6.26%), International Game Tech. (IGT) (-3.53%).

The Nasdaq Composite ($COMPX) ended the session lower by 2.53 points, or 0.09%, on Monday and it closed at 2,784.17. The strongest performers in the Nasdaq-100 ($NDX) were Marvell Tech. (MRVL) (+2.83%), NVIDIA (NVDA) (+2.74%), and Check Point Software (CHKP) (+1.97%). The weakest were Research In Motion (RIMM) (-8.47%), Netflix (NFLX) (-6.26%), and Green Mountain Coffee Roasters (GMCR) (-4.81%).

Nasdaq Composite (Figure 3)

Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.

Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

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About the Author
Toni Hansen

Toni Hansen is president and co-founder of the Bastiat Group, Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.

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