Chart Courtesy of Thomson/Reuters
Keep an eye on the five major averages as additional weakness into Friday's closes could provide technical warnings for the stock market. The major equity Averages ended Wednesday straddling their five-week modified moving averages at 15,362 Dow Industrials, 1669.6 S&P 500, 3566 Nasdaq, 6440 Dow Transports and 1026.63 Russell 2000. Both the Dow Industrials and Dow Transports closed Wednesday below their averages, which would shift their weekly chart profiles to neutral, if not negative.
At the time of publication the author had no position in any of the stocks mentioned. Follow @Suttmeier This article was written by an independent contributor, separate from TheStreet's regular news coverage.