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Not a Pretty Week on Wall Street as Markets Consolidate

Posted
10/26/2012 4:38:00 PM
By: Schaeffer's Investment Research
Referenced Stocks:AAPL;BAC;INTC;LGF;SWKS

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:

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...

OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS - MOVERS

STOCKS - EARNINGS

STOCKS - NOTABLE CALL ACTIVITY

STOCKS - NOTABLE PUT ACTIVITY

SCHAEFFER'S MARKET POSTURE

At the end of every market day, the staff at Schaeffer's Investment Research reviews the trading day in detail, covering major events and key market developments. Don't miss this critical, timely and insightful report. If you enjoyed today's edition of Market Recap, sign up here for free daily delivery straight to your inbox.