25Sep10:50 amEST

Bending But Not Breaking

Another Nike earnings beat is helping the Dow Jones Industrial Average hold its morning gains, up nearly 185 points as write this. In addition, banks and semiconductors are bouncing back from mildly oversold conditions we saw yesterday. 

However, the biotechnology and small market capitalization issues in the IBB and IWM, respectively, are both red and continue to lag. 

Overall, the market is a mixed bag, and with bears bending but not breaking into this rally it is like that bulls are going to need to salvage the biotechs and small caps in order to cement any type of durable bottom, beyond a mere morning pop in the futures. Also note the interplay between the small caps and biotech, as many biotechs are housed in the Russell 2000 Index. 

In addition, perennial laggards like BBRY and TWTR continue to move lower yet, perhaps another sign of waning risk appetite in the market as a whole, despite the headline number in the Dow. 

Inside Market Chess Subscription Services this morning, we are closely monitoring a few key commodities and under-the-radar stocks for fresh ideas. 

Stock Market Recap 09/24/15 ... Context is King

 
BackToTop
 

This website is intended for educational purposes only. | © 2021 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site