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by 1/4/2000 3:16 PM

Stocks quoted in this article:

US/H0

Investors seem to be taking note of the higher interest rates in recent weeks and are selling stocks in accordance with this trend. Oddly, today's brisk selloff comes when bonds are rallying by nearly a full point for the March Treasury Bond futures contract (US/H0 -90-22/32). The US/H0 only violated the heavy put support of 61,398 at the 90 strike by 4/32 at yesterday's close. The contract has not traded back below the 90 strike in today's action.
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by Beth Gaston 1/4/2000 3:13 PM

Stocks quoted in this article:

One equity steering clear of the broader-market carnage this afternoon is Kroger (KR - 19-5/8), the largest grocer in the United States. Earlier today, a major brokerage firm announced rather aggressive price targets on KR, as well as on its chief competitor, Safeway (SWY - 34-3/16). This news coincided with a sideways consolidation of KR shares into their 10-day moving average. Today, the stock rebounded higher off of this ascending short-term trendline. At 3:15 p.m., the equity was trading 3.6 percent higher.
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by Beth Gaston 1/4/2000 3:01 PM

Stocks quoted in this article:

The AMEX Pharmaceutical Index (DRG - 336.20) isn't very high on itself today, declining more than three percent, or 12 points, in late-afternoon trading. Two major components of the index, Pfizer (PFE - 30-7/8) and Schering-Plough (SGP - 38-1/8), have in fact recorded new 52-week lows. Today's decline has taken the index below potential "triple-bottom" support in the 337-339 region, an area that contained the sector's pullback in early September and in mid-December. The DRG is now less than two percent away from matching its annual low of 329.50.
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by 1/4/2000 2:57 PM

Stocks quoted in this article:

The S&P 100 Index (OEX) has successfully tested support at its uptrending 10-week moving average. This is the first major test of this trendline since the index broke above the intermediate-term moving average in late October. The 10-week moving average is currently sitting near the 760 mark, while the OEX is at 765 at 3:00 p.m.<
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by 1/4/2000 2:40 PM

Stocks quoted in this article:

COMP

The Nasdaq Composite (COMP - 3973.9) appears to be mounting a modest recovery now, sitting about 23 points from its intraday low. The ability of the index to close back above the round-number 4,000 level would be an encouraging sign that the tech-selling has run its course. <
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