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While selling pressure has remained subdued, the U.S. stock markets continue to see some weakness in late-morning trading on Monday. Weakness among resource stocks is contributing to the losses being shown by the major averages.
Our PowerRatings Heat Maps* have been pointing towards this breakdown in resource/energy stocks over the last week. It will be interesting to see what signals we get today. Click here for a free trial to our PowerRatings Heat Maps.
Crude for March delivery has fallen in morning trading after Saudi oil minister said OPEC does not need to continue cutting supply. Crude is currently down $1.59 to $58.30 a barrel.
After closing at an 8-month high last week, gold is giving back some ground currently down $2.80 to $664.05 an ounce.
Click here to see our new list of indicators that includes Gaps Down 5% or More, 2-Period RSI Below 2, Stocks Up 10% or More. Historically proven edges make these a great place to start making a watch list.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
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