Not a Pretty Week on Wall Street as Markets Consolidate

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Dow Jones Industrial Average (DJI) AAPL

Chart of the Day : Seven reasons why Tony thinks Lions Gate Entertainment ( LGF ) looks ready to power higher. And now, a look at the numbers...

CLOSING SUMMARY - INDICES

CLOSING SUMMARY - NYSE AND NASDAQ

At its intraday high of 13,151.72, the Dow Jones Industrial Average (DJI - 13,107.21) was up more than 48 points, but struggled to maintain a lead throughout the session. By the close, the Dow eked out a slim victory of 3.5 points -- posting its second day in a row above the 13,100 level. Thirteen of the 30 blue chips ended with wins, as Intel Corporation ( INTC ) topped the list with a 1.2% gain. On the contrary, the 17 laggards were paced by Bank of America Corp's ( BAC ) 1.3% loss. On a weekly basis, the Dow retreated 1.8%

The S&P 500 Index (SPX - 1,411.94) and Nasdaq Composite (COMP - 2,987.95) parked on opposite sides of breakeven today, ending very close to where they started. The SPX stayed just atop its 80-day moving average, but gave back 1 point, or less than 0.1%. Meanwhile, COMP bounced from its 200-day trendline, inching higher by 1.8 points, or less than 0.1%. For the week, the SPX sawed off 1.5%, while the COMP fell 0.6%.

The CBOE Market Volatility Index (VIX - 17.81) lost 0.3 point, or 1.7%, and gave up its short-lived perch atop the 18 level, though its 200-day moving average continued to offer support. As the equities markets turned lower for the week, the VIX jumped 4.4%.

Noteworthy stats at the close:

  • The equity put/call volume ratio across all 10 options exchanges ended at 0.87, with roughly 7.44 million calls and 6.53 million puts traded.
  • The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 36.30) checked in at 0.85, with calls outpacing puts.
  • The New York Stock Exchange (NYSE) showed an advance/decline ratio of 0.70, as the number of upward movers were overshadowed by the decliners. Likewise, the advance/decline ratio on the Nasdaq stood at 0.71.

More of today's big stories:

And, in case you missed it ... Option Idea of the Week : Skyworks Solutions Inc ( SWKS ).

For today's activity in commodities, options, and more, head to page 2.

After trading on both sides of breakeven, oil futures settled with modest gains today. A relatively upbeat round of domestic data tipped the scales in the bulls' favor, as did "Frankenstorm"-related production concerns. By the close, December-dated crude tacked on 23 cents, or 0.3%, to end at $86.28 per barrel. For the week, however, black gold suffered a drop of 4.2%.

Gold futures, on the other hand, erased early gains to finish in the red. By the time the dust settled, gold for December delivery fell $1.10, or less than 0.1%, to end at $1,711.90 an ounce. For the week, the malleable metal surrendered 0.7%, marking its third straight weekly drop.

Levels to watch in trading...

  • Dow Jones Industrial Average (DJI - 13,107.21) - support at 11,500; resistance at 14,000
  • S&P 500 Index (SPX - 1,411.94) - support at 1,100; resistance at 1,500
  • Nasdaq Composite (COMP - 2,987.95) - support at 2,400; resistance at 3,400

OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS - MOVERS

STOCKS - EARNINGS

STOCKS - NOTABLE CALL ACTIVITY

STOCKS - NOTABLE PUT ACTIVITY

SCHAEFFER'S MARKET POSTURE

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This article appears in: Investing , Options

Referenced Stocks: AAPL , BAC , INTC , LGF , SWKS

Schaeffer's Investment Research

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