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Stock Market Watch for Wendesday



The stock market turned a 1% loss into a 1% gain Tuesday. The swing wasn t inspired by any particular piece of news, but came gradually as sellers slowed their efforts in the face of technical support, which eventually gave way to short covering.

The broader market s climb spanned nearly the entire session. A base appeared to be made after the S&P 500 had retraced 50% of its move to recent highs and hit a key sloped support line.

Sector WatchStrong
steel; diversified metals and miners; homebuilding; construction materials; department stores; wireless services; coal and consumable fuel; industrial REITs
Weak
info tech consulting and services; electronic components; photo products