The indices initially held the Friday lows but have subsequently given them up. Some are testing lower support from the tops hit before the December plunge, others are not.
SP500 is at the November 2018 peak, part of the trio of tops before the December 2018 dive lower.
NASDAQ is at the October 2018 peak.
DJ30 is breaking the 200 day MA
SOX is at the August/Sept highs, the top of that range.
SP400 is breaking the 200 day MA similar to DJ30
RUTX has bombed lower through the 50 day, 200 day MA's.
SP500 -68.57, -2.36%
NASDAQ -250.56, -3.16%
DJ30 -608.50, -2.35%
NASD 100 -3.27%
AAPL, AMZN, NFLX, GOOG getting hammered lower.
AVGO gapped below the 50 day MA. LRCX gapped to the 50 day. AMD is back to the 50 day.
Financials: Banks are breaking near support. V is back to the 50 day MA as it continues its test.
Retail: some are holding decently, e.g. COST, but most are getting hit.
Personal products: As you would expect, they are working better, holding their patterns: CL, PG.
Food: Have to eat, but it can still be junk food as PEP holding up well, WING not bad.
Indices moving laterally -- more or less -- the past 1.5 hours after hitting new session lows. Trying to put in a double bottom off that lower low, but there is no pop or bounce strength at all. Looks as if this won't hold and lower lows could come yet again.
Jon Johnson, Chief Market Strategist
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