Join        Login             Stock Quote

Failure at Resistance

 August 01, 2008 12:19 PM

The session started on a sour note after disappointing GDP figures and initial claims. The gap was quickly filled on lower oil and several upbeat earnings form some widely held names. The NASDAQ outperformed the broader markets, but late in the session, everyone headed for the exits and prices swooned into the close. Profit taking ahead of tomorrow's jobs data, I guess.

Oil retreated following yesterday's bounce, commodities, followed oil lower. Strength in biotechs and airlines.

Tomorrow's economic data includes Construction spending and ISM index at 10:00, as well as key jobs data at 8:30.

BIIB disclosed . BIIB's partner is ELN and both charts look about the same.

Stocks set to gap lower on AH earnings include: BOOM, HNSN, TOMO. Gapping up: THOR, SWIM.

[Related -Biogen Idec Inc (BIIB): Top Reasons To Own Biogen Idec]

iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.