Slip Sliding Away

The major stock indexes started the morning trading sharply higher. At 10:00 am EST the SPDR Dow Jones Industrial AverageDIA traded as high as $116.97 a share. Since that high pivot the major stock indexes have been slowly declining throughout the session. The highly traded and followed DIA is now trading lower by 0.09 cents to $115.26 a share. The SPDR S&P 500 Index TrustSPY and Powershares QQQ Trust QQQ have also declined sharply this afternoon reversing earlier gains. Traders can watch for intra-day support on the DIA around the $114.95 and $114.00 areas. Some leading stocks that have sold off today include Biadu Inc.BIDU, Netflix Inc.NFLX, and International Business Machines Corp.IBM. When the leading stocks in the market fail to hold early gains it is a sign of some short term intra-day selling pressure. Nicholas Santiago InTheMoneyStocks.com