Apple, Facebook, Tesla Falter, But These Stocks Are Thriving: S&P 500 Futures

Futures for the S&P 500 index, Nasdaq 100 and Dow industrials rose slightly Monday evening vs. fair value following losses for the major averages. The Nasdaq composite led Monday’s selling, testing its 50-day moving average as Facebook (FB) plunged through that key support, Tesla (TSLA) triggered multiple sell signals and Apple (AAPL) kept falling. Meanwhile, a large number of mostly tech breakouts joined Apple and Tesla underwater, including Alibaba (BABA), Square (SQ) and Nvidia (NVDA). The Nasdaq composite slid 0.9%, while the big-cap Nasdaq skidded 1.1%, below its 50-day. But the S&P 500 index and Dow industrials lost just 0.2%.

XAutoplay: On | OffTech stocks, especially longtime big-cap leaders like Facebook, are having a rough go right now. But there are several sectors and specific industry groups that are faring well, with Dow components Boeing (BA), Chevron (CVX) and Home Depot (HD) in or near buy zones.

Top Techs Tumble

Facebook had been trading tightly in a flat base just below a buy point. But shares fell 4.5% to 162.87 on Monday in heavy volume, tumbling below their 50-day moving average and undercutting the low of their current consolidation. Tesla extended its post-breakout reversal to more than 7% below its 370.10 entry — and through its 50-day to boot — making that buy point invalid. Nvidia round-tripped a 9.5% gain from a buy point, sinking 4.5% to 171, below the 174.66 entry. Apple fell 0.9% to 150.55, following a 5% sell-off last week.

Oil & Gas

Oil and gas groups and stocks continue to rack up big and steady gains, as crude oil prices have rebounded to their best levels since April.

Royal Dutch Shell (RDSA) and Valero (VLO) have cleared buy points, while BP (BP) and the Dow’s Chevron are close.

The key question for these stocks and the broader sector is whether oil and other energy prices keep rising — and when and how quickly shale operators ramp up their production.

Transports

Despite Tesla’s recent reversal, the broad transportation sector is healthy, from shipping giants FedEx (FDX) and UPS (UPS) to General Motors (GM) and Fiat Chrysler (FCAU) to trucking firms J.B. Hunt Transport (JBHT) and Old Dominion Freight Line (ODFL) to auto- and truck-parts firms such as Dana (DCN) and Lear (LEA) to RV makers Winnebago (WGO) and Thor Industries (THO).

Aerospace And Defense

Focusing on single-industry success stories, IBD’s Aerospace/Defense group is faring well. Boeing and Northrop Grumman (NOC) are among those in buy zones. General Dynamics (GD) is close.

Hotels

Hilton Worldwide (HLT), Marriott International (MAR), and Hyatt Hotels (H) are among several hotel operators that have broken out. But they’ve generally broken out on light-to-lackluster volume. Casino stocks have been doing well, though Melco Resorts (MLCO) fell below a buy point and Wynn Resorts (WYNN) nearly did so.

Builders

D.R. Horton (DHI), Toll Bros. (TOL) and LGI Homes (LGIH) are all near buy points.

On a related note, Home Depot crept out to a buy point on Monday, but in below-average volume.

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