Stock Market Today: Indexes Calm, Priceline In Base; Can Apple Retake Its Buy Point? | Stock News & Stock Market Analysis

The major indexes showed little willingness to surrender last week’s fine gains as big-cap growth, semiconductor, oil-related and some defensive names flexed strength in late trading Monday.

XAutoplay: On | OffOn the negative side, certain health care groups, namely drugstore chain, drug distribution, hospital and home-based health care, slid hard. Video game software developers cooled off as well.

The Nasdaq composite was off around 0.2% at 3 p.m. ET, following a nearly 1.5% gain last week and a 1.1% lift in the prior week. Apple (AAPL) defied the small drop, rising 0.3% to 155.80. The megacap tech is now less than 1% away from climbing back above the 156.75 buy point in an 11-week flat base. The stock, however, remains below its 50-day moving average.

The S&P 500 was off nearly 0.2%, the Dow Jones industrials less than 0.1%. Volume is running sharply lower vs. the same time Friday.

The Nasdaq 100-tracking PowerShares QQQ Trust (QQQ) ETF was practically at breakeven. At 147.60, the index ETF is up 37% since IBD’s The Big Picture column noted a rare Day 3 follow-through on June 30, 2016.

Priceline Group (PCLN) helped push the travel booking group into the top 10 winners of the day, rising 0.9% and moving further above the 50-day moving average. Shares are forming a shallow base since hitting a peak at 2,067.99.


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Originally posted 2017-10-10 08:53:31.


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