Dow Jones Industrial Average, SPY Breach Critical Levels as Stocks Slump

The Dow Jones Industrial Average (DJIA) experienced its first loss in six trading days, giving back the 17,000 level in the process. Disappointing trade data out of China sent the Dow reeling early today, while an afternoon rally attempt was short-lived. Falling crude futures also weighed on stocks -- just a day after oil prices hit a 2016 peak. The Dow didn't struggle alone though, as the SPDR S&P 500 ETF Trust (SPY) also sunk below a key century level. 

Continue reading for more on today's market, including:

• Our founder and CEO Bernie Schaeffer explains how to trade with the Relative Momentum Index (RMI). 
• Why some analysts are slashing their expectations for this biotech by nearly 90%. 
• How one Sunedison Inc (NYSE:SUNE) bear bet big after the company's $2.2 billion deal was terminated. 
• Plus ... Home Depot's multi-million-dollar hit, Republicans discuss a "bold agenda," and Chevron stalls. 
  

The Dow Jones Industrial Average (DJIA - 16,964.10) was in the red nearly the entire session, giving back 109.9 points, or 0.6%, to fall below the closely watched 17,000 level. Microsoft Corporation (NASDAQ:MSFT) led the nine Dow winners with a 1.2% advance. The 21 blue-chip losers were paced by Caterpillar Inc. (NYSE:CAT), which dropped over 4%. 

The S&P 500 Index (SPX - 1,979.26) slid 22.5 points, or 1.1%, snapping its own five-session win streak. The Nasdaq Composite (COMP - 4,648.83) closed with a 59.4-point, or 1.3%, loss. 

The CBOE Volatility Index (VIX - 18.67) added 1.3 points, or 7.6%. The "fear gauge" has now closed below its 20-day moving average for 15 straight sessions. 

5 Items on Our Radar Today:

1. Home Depot Inc (NYSE:HD) will pay out over $19 million to consumers as a result of the company's massive data breach from back in 2014. The incident affected more than 50 million shoppers. HD also announced it's taking several steps to improve its cybersecurity protocol. (Reuters)

2. Ahead of primary results from key states such as Mississippi and Michigan, House Speaker Paul Ryan called Republican presidential candidates Donald Trump and Ted Cruz to discuss a "bold conservative policy agenda." The Speaker is expected to contact candidates John Kasich and Marco Rubio, too.  (CNBC)

3. The tech stock almost no one on Wall Street is touching. 

4. How Chevron Corporation's (NYSE:CVX) rebound attempt stalled. 

5. The biotech stock that shrugged off a sector slump.

Data courtesy of Trade-Alert

Commodities:

Oil futures dropped, as traders anticipate a rise in crude inventories when government data is released on Wednesday. Meanwhile, Kuwait's lack of enthusiasm for a production freeze didn't help matters. Crude oil for April delivery fell $1.40, or 3.7%, to $36.50 per barrel. 

Despite the weakness in stocks, gold futures also closed lower. The April-dated contract gave back $1.10, or 0.1%, to land at $1,262.90 per ounce.