Second quarter earnings have been a mixed bag so far, according to TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer. 'Dow Chemical (DOW) says the consumer is doing great, MasterCard (MA) says the consumer is doing great, but if you look at Ford Motor (F) , you wouldn't think the consumer is doing great,' Cramer said.
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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.