After seeing its stock plunge an uncharacteristic 18% last year due to challenges in the retail space and greater competition from Under Armour (UA) and Adidas (ADDYY) , Nike (NKE) has proven in recent months that it's still the pre-eminent force in athletic sportswear.
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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.