Daytrading, Eminis, Forex trading, Swing Trading Market Analysis - 491604

The choppy trading came as some traders looked to get a head-start on the Thanksgiving Day holiday on Thursday. The major averages eventually ended the session mixed, with the Nasdaq posting a modest gain while the Dow and the S P 500 closed in negative territory. The Nasdaq closed up 6.

86 at 2,452.72, while the Dow closed down 26.02 at 12,316.

54 and the S P 500 closed down 0.70 at 1,400.50.

NYSE Adv/Dec 1599/1677, Nasdaq Adv/Dec 1459/1590. Despite the lack of direction that was shown by the broader markets, significant strength was visible in the semiconductor sector. The Philadelphia Semiconductor Index closed up 1.

8 percent, at a six-month closing high. Marvell Technology ( | | | ) turned in one of the sector's best performances, with the chip maker closing up 9.5 percent.

Novellus ( | | | ) and Broadcom ( | | | ) also posted strong gains. Some strength was also visible in the disk drive sector, as reflected by the 1.6 percent gain by posted by the Amex Disk Drive Index.

The index also set a six-month closing high, benefiting from strong gains by SanDisk ( | | | ) and Iomega ( | | | ). Metal stocks also saw some strength on Monday, with Phelps Dodge ( | | | ) helping to lead the sector higher. Phelps Dodge ( | | | ) closed up 26.

8 percent after the copper producer agreed to be acquired by Freeport-McMoRan ( | | | ) for approximately $25.9 billion in cash and stock. The news generated some optimism about further consolidation in the sector, which inspired traders to pick up metal stocks at reduced levels following recent weakness.

Similarly, shares of Equity Office Properties Trust ( | | | ) moved sharply higher after the company agreed to be acquired by an affiliate of the Blackstone Group for approximately $36 billion. Equity Office ended the session up 7.7 percent, at an all-time closing high.

Meanwhile, healthcare provider stocks came under pressure over the course of the session, contributing to a 1.1 percent loss by the Morgan Stanley Healthcare Provider Index. Tenet ( | | | ) and Lincare ( | | | ) posted notable losses.

The airline sector also moved to the downside as the trading day progressed, with the Amex Airline Index closing down 0.9 percent. With the loss, the index pulled back further off the nearly two-year closing high that it set last Thursday.

Some housing, biotechnology, and health insurance stocks also posted notable losses. Among biotech stocks, Affymetrix ( | | | ) and Imclone ( | | | ) saw significant weakness. Additionally, the loss posted by the Dow reflected substantial declines by Verizon ( | | | ) and General Motors ( | | | ).

Verizon ended the session down 3.8 percent, while GM closed down 3.4 percent.

Trading activity is likely to be subdued on Tuesday, as there are no major economic reports due to be released. Nonetheless, trading may be impacted by the release of earnings from companies such as Dollar Tree ( | | | ), Gamestop ( | | | ), and Tech Data ( | | | ). Additionally, shares of Medtronic ( | | | ) and Nordstrom ( | | | ) could see increased activity, as they are due to release their quarterly results after the close of trading on Monday.