Market Overview

Sector Recap and Technical Analysis for 6/14/11

The Basic Materials sector was the strongest performing area of the market in today's trading session, closing 2.2% higher on the day. The strongest performing stocks in the S&P 500 Basic Materials Sector in today's action were:

1) Alpha Natural Resources (NYSE: ANR): Shares of Alpha Natural Resources finished 4.5% higher from yesterday's close at $45.75. The stock has lost 17.1% over the past ten trading sessions. Alpha's 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a bearish indicator known as the “Death Cross.”

2) AK Steel Holding Corporation (NYSE: AKS): Shares of AK Steel finished 3.9% higher on the day at $15.33. The stock broke above its 50-day simple moving average (one year daily chart) in today's trading session. $15.50 has been a strong resistance level. After that, no resistance comes into play until $17.

3) FMC (NYSE: FMC): Shares of FMC finished 3.3% higher on the day at $79.99. The stock has lost 10% since hitting a 52-week high of $89.28 on May 2nd.

The Oil and Gas Sector gained 1.9% from yesterday's close in today's trading session. The strongest performing stocks in the S&P 500 Oil & Gas Sector in today's action were:

1) Cabot Oil & Gas (NYSE: COG): Shares of Cabot Oil & Gas finished 5.6% higher on the day at $58.94. The stock is looking to test its 52-week high of $60.64, which it set on June 8th.

2) Tesoro (NYSE: TSO): Shares of Tesoro finished 4.9% higher on the day at $21.94. The stock has strong support around $20.60 – a level dating back to February 10th. After that, no support comes into play until $17.68.

3) Marathon Oil (NYSE: MRO): Shares of Marathon Oil finished 4.4% higher on the day at $52.01. The stock broke above its 50-day simple moving average in today's trading session. Shares may be looking to test their 52-week high of $54.23, which was set on May 27th.

The Industrials Sector gained 1.8% from yesterday's close in today's trading session. The strongest performing stocks in the S&P Industrials Sector in today's action were:

1) Rockwell Automation (NYSE: ROK): Shares of Rockwell Automation finished 4.1% higher on the day at $80.28. The stock has lost 15.4% since hitting a 52-week high of $97.88 on April 26th.

2) Masco (NYSE: MAS): Shares of Masco finished 3.2% higher from yesterday's close at $12.21. The stock has lost 14% over the past ten trading sessions.

3) Precision Castparts (NYSE: PCP): Shares of Precision Castparts finished 3.3% higher on the day at $153.27. The stock broke above its 50-day simple moving average (one year daily chart) in today's session.

The Consumer Services Sector gained 1.4% from yesterday's close in today's trading session. The strongest performing stocks in the S&P Consumer Services Sector in today's action were:

1) J.C. Penney (NYSE: JCP): Shares of J.C. Penney finished 17.5% higher on the day at $35.37. The stock broke above its 200-day simple moving average (one year daily chart) in today's session. The 50-day simple moving average, which is currently at $36.27, looks to be the next area of resistance.

2) Carmax (NYSE: KMX): Shares of Carmax finished 5.2% higher on the day at $28.43. Carmax's 50-day simple moving average has crossed below its 200-day simple moving average (one year daily chart), which is a bearish indicator known as the “Death Cross.”

3) Best Buy (NYSE: BBY): Shares of Best Buy finished 4.6% higher on the day at $30.13. The stock broke above its 50-day simple moving average (one year daily chart) in today's session, but could not close above it. The $32.40 level has been a strong area of resistance for Best Buy.

The Technology Sector gained 1.3% from yesterday's close in today's trading session. The strongest performing stocks in the S&P Technology Sector in today's action were:

1) Western Digital (NYSE: WDC): Shares of Western Digital finished 5.3% higher on the day at $35.36. The stock found support at its 200-day simple moving average (one year daily chart). Shares have lost 15.5% since hitting a 52-week high of $41.87 on April 21st.

2) MEMC Electronic Materials (NYSE: WFR): Shares of MEMC Electronic Materials finished 4.8% higher on the day at $9.09. The stock has lost 23.2% since the beginning of May. Shares recently hit a 52-week low of $8.52 on June 10th.

3) JDS Uniphase (NASDAQ: JDSU): Shares of JDS Uniphase finished 3.6% higher on the day at $17.19. The stock has strong support around $16 – a level dating back to mid-January. After that, no support comes into play until $14.60.

The Consumer Goods Sector gained 1.3% from yesterday's close in today's trading session. The strongest performing stocks in the S&P Consumer Goods Sector in today's action were:

1) Lorillard (NYSE: LO): Shares of Lorillard finished 11.8% higher on the day at $113.59. The stock broke above its 50-day simple moving average (one year daily chart) in today's trading session. Shares are looking to test their 52-week high of $116.55, which was set on May 31st.

2) Harley-Davidson (NYSE: HOG): Shares of Harley-Davidson finished 4.2% higher on the day at $26.29. The stock bounced off of its 200-day simple moving average (one year daily chart) in today's session.

3) PulteGroup (NYSE: PHM): Shares of PulteGroup finished 3.9% higher on the day at $7.24. The stocks 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a bearish indicator known as the “Death Cross.”

The Health Care Sector gained 0.9% from yesterday's close in today's trading session. The strongest performing stocks in the S&P Health Care Sector in today's action were:

1) Aetna (NYSE: AET): Shares of Aetna finished 3.8% higher on the day at $44.38. The stock is looking to test its 52-week high of $46.01, which was set on May 19th.

2) Biogen Idec (NASDAQ: BIIB): Shares of Biogen Idec finished 3.4% higher on the day at $94.88. The stock bounced off of its 50-day simple moving average (one year daily chart) in today's session.

3) Tenet Healthcare (NYSE: THC): Shares of Tenet Healthcare finished 2.7% higher on the day at $6.13. The stock has found support at its 200-day simple moving average, which is currently at $5.90 on a one year daily chart.

The Telecomm Sector gained 0.6% from yesterday's close in today's trading session. The strongest performing stocks in the S&P 500 Telecomm Sector in today's action were:

1) MetroPCS Communications (NYSE: PCS): Shares of MetroPCS Communications finished 1.5% higher on the day at $16.50. The stock has strong support around $16. After that, no support comes into play until $14.35.

2) Sprint Nextel (NYSE: S): Shares of Sprint Nextel finished 1.3% higher on the day at $5.33. The stock has lost 17.4% since hitting a 52-week high of $6.45 on June 2nd.

3) Windstream (NASDAQ: WIN): Shares of Windstream finished 1.2% higher on the day at $12.93. The stock is having a hard time breaking above its 50-day simple moving average (one year daily chart), which is currently at $12.96.

The Financial Sector gained 0.5% from yesterday's close in today's trading session. The strongest performing stocks in the S&P 500 Financial Sector in today's action were:

1) Regions Financial (NYSE: RF): Shares of Regions Financial finished 3.5% higher on the day at $6.26. The stock has found strong support in recent days around $5.90.

2) E*Trade Financial (NASDAQ: ETFC): Shares of E*Trade Financial finished 3.4% higher on the day at $14.06. The stock's 50-day simple moving average is close to crossing below its 200-day simple moving average (one year daily chart), which is a bearish indicator known as the “Death Cross.”

3) XL Group (NYSE: XL): Shares of XL Group finished 3.3% higher on the day at $21.64. The stock is looking to break above its 200-day simple moving average, which is currently at $21.97 (one year daily chart).

The Utilities Sector was the weakest performing area of the market, gaining 0.4% from yesterday's close in today's trading session. The strongest performing stocks in the S&P 500 Utilities Sector in today's action were:

1) Firstenergy (NYSE: FE): Shares of FirstEnergy finished 2% higher on the day at $43.80. The stock is looking to test its 52-week high of $45.80, which was set on May 16th.

2) Spectra Energy (NYSE: SE): Shares of Spectra Energy finished 1.7% higher on the day at $27.22. The stock has been stuck in a tight consolidation range since May 12th. Shares are looking to break above their 50-day simple moving average, which is currently at $27.36 (one year daily chart).

3) ONEOK (NYSE: OKE): Shares of ONEOK finished 1.2% higher on the day at $69.69. The stock has been in a tight consolidation range since May 6th. Shares may be looking to test their 52-week high of $71.21, which was set on June 1st.

Posted-In: Death CrossLong Ideas News Short Ideas Small Cap Analysis Technicals Hot Pre-Market Outlook After-Hours Center Movers Trading Ideas

 

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