The major averages began the new trading week on a down note with the S&P (-0.7%) settling beneath its 100-day moving average (2,085) for the first time since late March. The index retreated into the afternoon while the Nasdaq (-0.9%) underperformed throughout the day. Volumes were very low.
CHRS and XON triggered long today and acted well against a soft backdrop.
Right now the Dow, Nasdaq and S&P have broken their 50 day simple moving averages and the Russell 2000 is close, so the next few days should be interesting.