Markets were unable to overcome early weakness like they were Monday spending the vast majority of time in the red throughout the session. Most concerning once again was the behavior of the Nasdaq underperforming and falling .6% and the S&P 500 lost .3%. The decline was broad based with all 10 of the major S&P 500 sectors finishing in the red. Financials, healthcare and consumer discretionary acted the “best”. Speaking of consumers WMT reported earnings today and dropped almost 3.4% and it was the stocks third consecutive negative reaction to earnings. After a 4.7% gain on 11/13/14 jumping 4.7% it lost 4.4 and 3.2% on 5/19 and 2/19. WMT has not been above its 50 day SMA since January of this year and notice the problems were possibly foreshadowed by the uneasiness of life above the important round number of 90. Remember stocks that can trade comfortably above that figure generally go on to trade to par and beyond. WMT was able to CLOSE above 90 on 1/8 and 1/12 but quickly fell beneath it and since the week ending 1/16 WMT has declined 21 of the last 31 weeks and looks like another lower week will be recorded this one. It is firmly in bear market mode off 24% from recent all time highs. Switching sectors we have been highlighting the problems the semiconductors have been facing (post from 7/22). Looking through many charts and stats, I was alarmed by the 4.14% dividend yield KLAC is sporting.

This article requires a Chartsmarter membership. Please click here to join.