Wednesday's Options Alerts

The Dow Jones Industrial Average (($INDU.X) closed -2.05% at 8207.55. The S&P 500 ($SPX.X) closed -1.97% at 873.52. The Nasdaq ($COMPQ) closed -1.24% at 1259.94.

There were no sectors positive at the end of the day.

Heavy losses were made in gold and silver ($XAU.X), -3.96%, oil service ($OSX.X), -3.70%, and utilities ($UTIL), -3.61%.

Volume came back today, as the major indexes dropped below head-and-shoulders patterns, as well as key support levels outlined by Gary Kaltbaum.

The Semiconductor Index ($SOX.X), -2.10% at 263.56, hit a new three-year low as it closed at the bottom of its daily range. The Broker/Dealer Index ($XBD.X), -2.24% at 393.40, closed at the bottom of its range after turning away from its 20-day average at its high today.

U.S. Treasury Bonds closed up '4 at 112 '29.

In economic news, August industrial production fell 0.3% for its first decline of the year. Analysts were looking for a 0.2% increase. Also, capacity utilization fell 76%, which was within expectations.

Volume was better than average at 1,326,960,000 on the NYSE, and 1,482,673,000 on the Nasdaq.

The only Dow gainers were AT&T Corp. (T), +2.51% at 12.63, and Walt Disney (DIS), +1.01% at 15.98.

Leading the Dow down was McDonalds (MCD), -12.72% at 18.93, as they announced earnings for the year will come in less than expected. Also down were American Express (AXP), -4.56% at 33.25, Alcoa (A), -3.45% at 21.52, and Coca Cola (KO),-3.31% at 49.00 . 

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