Market takes a needed rest

 

Major indices opened lower this Monday morning, but as of now, they are quickly making up the loss. Crude oil is falling, and the dollar is rebounding slightly against Yen and Euro. The yield on the US ten-year Treasury has risen all the way to 2.7%. Bucking the trend in the stock market today are hot shots Mercadolibre (MELI), up 3%, and NVIDIA (NVDA), up 0.45%.

At present, the S&P 500 is down 0.29%, the DJIA is down 0.25%, and the NASDAQ is down 0.33%. West Texas Intermediate crude is trading at $65.57. Bitcoin is at $11,235 on Bitstamp.

Industries doing well today include construction & engineering, internet & catalog retail, and healthcare providers. Industries showing weakness include diversified telecom, technology hardware, and tobacco. The VIX is up 10.11% to 12.2 after closing on Friday at 11.08. The most heavily traded options this morning are for the VanEck Vectors Gold Miners ETF (GDX), with 21,270 February-16 25 calls on the board. The total put/call ratio as of 10:00 AM was 0.66 (481,688/317,118). The advancers/decliners ratio for NYSE stocks is 793/2,122 while the advancers/decliners ratio for NASDAQ stocks is 1,058/1,766.

Symbols: GDX MELI NVDA

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