Farming and Mining Equipment Stocks Continue To Dig Deeper Holes – TSCO, CAT, JOY, DE

This afternoon, most of the leading farming and mining equipment stocks are declining lower on the session. All of the leading stocks in the sector remain very week at this time. Tractor Supply Co (NASDAQ:TSCO) is leading the declines for the industry group today. TSCO stock is trading lower by $3.80 to $79.81 a share. Short term traders should watch for intra-day support around the $77.40, and $73.00 levels.

Some of the other leading stocks in the sector that are declining lower today include Caterpillar Inc (NYSE:CAT), Joy Global Inc (NYSE:JOY), and Deere & Co (NYSE:DE). All of these stocks except Deere & Co look very weak on the daily charts by trading below the 50, and 200 moving averages. This sector remains vulnerable to further declines at this time.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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