Honeywell (HON) , which reports results on Friday, is laying off workers in its aerospace division, according to TheStreet's Real Money. Jim Cramer says this comes after weakness at Boeing (BA) . Cramer says it's worth noting the weakness in part of Honeywell's business, because the company's stock has been on an amazing tear.
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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.