Stocks On The Move: IBM, AMZN, XOM, CVX

The markets are fading off the highs as a master level at $137.10 – $137.15 was hit on the SPDR S&P 500 ETF (NYSE:SPY). This looks like it may be a short term top in the markets. Stocks helping support the markets and keep them positive are International Business Machines Corp. (NYSE:IBM) and, Inc. (NASDAQ:AMZN). These two stocks have lead the markets higher in recent months and continue to do so, each hitting new 52 week highs today.

The laggards in the market are clearly Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX), as well as Apple Inc. (NASDAQ:AAPL). While XOM and CVX have been the leaders of late and are seeing a drop today, AAPL has been very weak over the last month or two and continues to show that weakness.

The markets are looking like continued downside is likely in the coming weeks. Look for a small Dollar bounce to start soon as well.

About Gareth Soloway 168 Articles


Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial advisor, helping clients get their financial houses in order. While helping others gain financial independence, he continued to study the day trading and swing trading world, developing a unique market philosophy and proprietary methods. Following his work in the financial sector, Gareth went on to trade alongside professional traders. Unable to tolerate the hype of Wall Street any longer and having an amazing ability to profit using his developed techniques, Gareth Soloway decided to partner with his friend and colleague, Nicholas Santiago to form Chief Market Strategist Gareth Soloway serves as the president and CFO of InTheMoneyStocks.Com.

Visit: InTheMoneyStocks

Be the first to comment

Leave a Reply

Your email address will not be published.