Reply #76: 3:03 EST numbers and blather

[UpInArms]

Dow 11,095.73 +5.06 (+0.05%)
Nasdaq 2,110.91 -19.15 (-0.90%)
S&P 500 1,265.02 -0.46 (-0.04%)
10-Yr Bond 5.128 -0.04 (-0.08%)

NYSE Volume 1,455,012,000
Nasdaq Volume 1,230,245,000

3:00 pm : Sellers continue to show their resolve as all three of the major averages now languish in negative territory. On the Dow, Hewlett-Packard's (HPQ 31.61 -1.24) 3.8% decline paces the way lower among the 11 components losing ground. Adding to the Nasdaq's struggles has been its inability to find support near a key technical level of 2112. DJ30 -0.16 DOT -1.2% NASDAQ -19.52 SOX -2.3% SP500 -0.97 NASDAQ Dec/Adv/Vol 1694/1272/1.22 bln NYSE Dec/Adv/Vol 1409/1811/968 mln

2:30 pm : Market continues to weaken as the absence of leadership from Technology continues to stall recovery efforts on the broader market. As the second most influential economic sector, accounting for a 15.4% weighting on the SnP 500, forecasts call for tech to show a disappointing 3.0% year/year decline in operating earnings growth.DJ30 +19.45 NASDAQ -14.00 SP500 +1.02 NASDAQ Dec/Adv/Vol 1505/1436/1.07 bln NYSE Dec/Adv/Vol 1213/1993/872 mln

2:00 pm : More of the same for the averages as blue chips and the tech-laden Nasdaq continue to trade in opposing directions. Chip stocks continue to fall out of favor, as evidenced by the PHLX Semiconductor Sector Index (SOXX) extending its year-to-date disappointment to more than 13% with a 2.1% pullback and the Semiconductor HOLDRs Trust (SMH) hitting its lowest level since May 2005. Linear Tech (LLTC 31.58 -0.52), Maxim Integrated (MXIM 29.14 -0.61) and Xilinx (XLNX 21.12 -0.37) are hitting new 52-week lows while Marvell Technology (MRVL 39.54 -2.19) and Applied Materials (AMAT 15.83 -0.25) are hovering just above the worst levels over the last 12 months.DJ30 +40.02 NASDAQ -8.22 SP500 +3.25 NASDAQ Dec/Adv/Vol 1469/1456/978 mln NYSE Dec/Adv/Vol 1225/1950/798 mln