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WEEKLY MARKET ANALYSIS

Stocks opened modestly lower but the decline reversed and accelerated during the day into the close. The Dow Jones Industrial Average ETF DIA was down 0 points on the day and closed at 266. For the S&P 500, there is support near 2915 and 2891. Resistance levels are currently at 2963 and 2987.

GLOBAL ASSETS UPDATE

TWELVE SECTOR ANALYSIS

VOLATILITY UPDATE

On Wall Street, 6 of the 12 major market sectors are seeing red today. The biggest losers are Energy (XLE), Pharmaceuticals (XPH), and Retail (XRT). The strongest sector today has been Utilities (XLU) which has gone up 1.6%.

The CBOE Volatility Index (VIX) is up $0.01 going from $13.11 to $13.12 today. The ratio of puts to calls for the current at-the-money strike of $13 is below average which means that traders are favoring Calls over Puts currently.

MARKET HEAT

A NASDAQ stock with unusually high volume today is Sanmina Corp (SANM). On the AMEX Silvercorp Metals Inc (SVM) has had significant interest, and on the NYSE Diebold Nixdorf Inc (DBD) has had unusual volume.

The biggest mover out of other high-volume stocks is Diebold Nixdorf Inc (DBD) which has moved down over -19% recently on volume of over 0 thousand shares. The chart below shows the performance of DBD over the last year. Diebold Nixdorf, Incorporated provides connected commerce services, software and technology.

DARWIN DIEBOLD NIXDORF INC FORECAST

The performance of Diebold Nixdorf Inc (DBD) will be worth watching in the near term for a number of reasons. The forecast for the coming week on DBD is for the price to go down. The correlation of DBD to the S&P 500 recently has been 0.1 which is a weak positive correlation. Key levels to watch for DBD are upside resistance at the $10 and downside support at the $6 price points.

Trade smart,

Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network