SAP AG has run into some problems, and it comes at a bad time for any Silicon Valley-based companies to run into trouble with shareholders. Already, eBay has elected to spin off its prizedPayPal unit, instead of suffer another potentially divisive campaign with activists as proxy season's curtain is set to rise on the West Coast. While SAP is looking to build out new offerings, though things like its Concur Technologies acquisition, bigger struggles may come in the form of its cloud business battle. Today's Chart of the Day isn't under pressure from existing players, but even recent IPOs.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.