This morning, the major stock indexes are soaring higher at the start of the trading session. The highly popular NASDAQ Composite is surging by 1.50 percent. Whenever there is a rally of this size it is always important to note the weak equities that are not rallying higher with the major stock indexes. Stocks that fail to rally higher on a day like today signal weak relative strength and could be signaling future weakness should a downturn occur in the major stock indexes.
Netflix Inc. (NASDAQ:NFLX) is a market leading tech stock that is trading lower today by $8.14 to $220.60. This is a decline of more than 3.0 percent on the session for the popular tech stock. NFLX stock just made new 52-week highs on May 16, 2013 when it traded as high as $248.85 a share. Day traders should watch for intra-day support around the $214.75 level. Should NFLX stock break below that area the next important intra-day support level for NFLX stock is going to be around the $204.18 level.
Some of the other market leading stocks that are struggling to trade higher today include Broadcom Corp. (NASDAQ:BRCM), Facebook, Inc. (NASDAQ:FB), and Research In Motion Limited (NASDAQ:BBRY). Remember, stocks that fail to trade higher when the major stock indexes are rallying higher could be candidates to decline further when the major stock indexes stall out.