Stocks Hit New Closing Lows

DJIA - 203.18, -2.42% SP500 - 27.85, -3.18% NASDAQ Comp. - 46.13, -2.97% Russell 2000 - 22.72, -4.82% Exchange NYSE NASD Advancing 730 634 Declining 2,727 2,233 Oil $63.22 -$0.93 Gold $742.90 +$12.60 $SOX 212.57 +0.24 Strongest Sectors: XLY -1.49%...XLK -2.06%...XLP -2.54% Weakest Sectors: XLB -7.42%...XLE -6.39%...XLV -4.28% Sector Watch Up Trending: Sideways: Down Trending: XLP, XLF, XLY, XLV, XLI, XLE, XLU, XLB, XLK The DJIA opened lower rallied until 1:40 ET and then sold off to close at its low of the day and a new 52-week but still above the intra-day low on October 10. It is still in the zone of support but approaching the low end. All nine sectors continue their respective downtrends and were lower on Monday.

Watch the October 10 close in the DJIA as a key support area. Trade with the trend.

Oil continued to move lower in its downtrend and gold rose for the second day in a row although gold stocks moved lower. The SOX Semiconductor Index actually rose slightly on Monday. Index Commentary The DJIA The SPX The Nasdaq makes a new 52-week closing low…forms inverted hammer and bullish harami. The RUT forms large black candle closes at a new 52-week low. Monday’s Action Moving Up: STRA, ZION, RF, CF, BRCM Moving Down: FSLR, BIDU, GS, POT, AEM, MA, ESRX, X, CNX, ANR, BTU, NUE, MS, PCLN, ONXX, CLF, DRYS, SOHU, COH, V, AGU, SINA, FWLT, SCHN, GDX, MOS, MEE, GRMN, NDAQ, BUCY, LKD, KMT, INFY, FMCN, LAMR, MON, PNRA, LCC, Intermediate Term Market Trend: Down Short Term Market Trend: Down