ShepWave's BLOG

ShepWave

MarketWatch.com MARKET SNAPSHOT Stocks turn mixed; Nasdaq in the red
by ShepWave.com
Posted: 11/29/2005 14:43 EST

By Mark Cotton, MarketWatch
Last Update: 1:52 PM ET Nov. 29, 2005 [ Page 1 | 2 ]

NEW YORK (MarketWatch) -- U.S. stocks turned mixed Tuesday as a raft of upbeat economic data failed to provide sufficient upward momentum to take the market to new highs, with some investors now looking to the November employment report at the end of the week to act as a fresh catalyst.

MARKETWATCH TOP NEWS

U.S. stocks turn mixed; impact of upbeat data fades

U.S. Oct new-home sales jump to new record high

Calpine replaces CEO, shares plunge 40%

U.S. durable-goods orders surge in October

Gold tops $500 in overnight trade

Free! Sign up here to receive our Mutual Funds Weekly e-Newsletter!

TRADING CENTER

TRACK THESE TOPICS

My Portfolio

Alerts

Index: Dow Jones Industrial Average

Add

Create

Column: Market Snapshot

Create

Index: Nasdaq Composite Index

Index: S&P 500 Index

Get breaking news sent directly to your in-box

Edit My Portfolio | Edit Alerts

The Dow Jones Industrial Average ($INDU:

Dow Jones Industrial Average

News, chart, profile

Last: 10,899.29+8.57+0.08%
2:39pm 11/29/2005

$INDU10,899.29, +8.57, +0.1%) traded to a session high of 10,959.79 after the strong housing and confidence data, before paring gains. It was last up 2 points at 10,892.

The Nasdaq Composite Index ($COMPQ:

Nasdaq Composite Index

News, chart, profile

Last: 2,235.96-3.41-0.15%
2:39pm 11/29/2005

$COMPQ2,235.96, -3.41, -0.2%) was down 6 points at 2,233 after climbing as high as 2,253.25 earlier in the session.

The S&P 500 ($SPX:

S&P 500 Index

News, chart, profile

Last: 1,259.19+1.73+0.14%
2:39pm 11/29/2005

$SPX1,259.19, +1.73, +0.1%) put in a fractional gain to stand at 1,258.

"We've had a decent rally and we're just giving back some of those gains," said Mike Viracola, managing director and co-director of equities at Adams Harkness. "We're just taking a pause. It's more buyers taking a wait and see approach rather than any aggressive selling."

For Kent Engelke, capital markets strategist at Anderson & Strudwick, the next significant catalyst to the upside could be Friday's employment report. "In my view, the report will once again demonstrate there is no cost-push inflation in the economy."

On the broader market for equities, advanced outpaced decliners by 18 to 13 on the New York Stock Exchange, while winners and losers were evenly balanced on the Nasdaq.

Volume was 968 million on the Big Board and 1.14 billion on the Nasdaq.

Click on link below to view article:

http://www.marketwatch.com/news/story.asp?guid=%7BE9C92189%2D9B80%2D45C2%2D8B86%2D909BAB9BA1EA%7D&siteid=mktw&dist=

For objective Elliott Wave Theory Technical Analysis go to www.shepwave.com

Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA.

ShepWave Login

Forgotten Password

Privacy Policy

Enter Trial Code