The markets were notably weaker today as all the major indices closed in the red. While volume was light there was a clear "risk-off" mentality today from those that were active in the markets. The Dow 30 closed lower by 111, still unable to break the 20,000 record that the media continues to focus on. The S&P 500 was lower by 18 and the Nasdaq 100 was off by 48. As the week continues traders expect the low volume, slow markets to continue. With little to no scheduled news it is difficult to gauge direction.
First Solar (NASDAQ: FSLR) was one of the big losers today as it declined 3.50%. The sell off was slow and steady all day long with low, but consistent volume into the close. Shares of the solar company are lower by over 50% this year as the attention continues to be on Tesla's (NASDAQ: TSLA) solar city. Although there has been a consistent rally since November the stock still remains just off yearly lows.
NVIDA (NASDAQ: NVDA) broke its win streak today as investors unanimously decided to take some profits off the table. The stock was lower by 6.88% today falling all day long. Though today was the worst down day all year for the stock it still remains one of the years best performing stocks, up almost 250% since January. Technical traders have been touting that a pullback was in order and today their wish was at least partially granted.
Coach (NYSE: COH) was one of the few retail stocks to enjoy a nice gain today. The stock added 2.03% even though retail was weak. Technical traders took note of support in the $34 area and placed their bets on a bounce back to the $36 resistance area. The move was unable to attract the other retail stocks as the sector (NYSE: XRT) closed lower by 1.20%.