NEW YORK (TheStreet) -- The markets drifted Wednesday after a disappointing new home sales report.
The Dow Jones Industrial Average gained 4.92, or 0.05%, to 10,298.44, while the S&P 500 lost 3.27, or 0.30%, to 1,092.04. The Nasdaq fell 7.57, or 0.33%, to 2,254.23.
Guy Adami said on CNBC's "Fast Money" TV show said "people don't realize how close we are to breaking down technically."
Tim Seymour was a little more encouraged about the tape, saying the housing data wasn't all bad, noting that there was an improvement in the delinquency rate and a rise in April home prices.Brian Kelly agreed with Adami, saying the 33% drop in new home sales is "historic." He said that is significant because housing represents 40% of GDP. "Frankly the market looks a little scary right now." For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV