DJIA Market Close for Thursday, July 12, 2012

The Dow closed down -31.26 (-0.25%) at 12,573.27.

Today, 8 out of the 30 Dow stocks closed higher and they were MRK, PG, MCD, PFE, DIS, BA, CVX and WMT.

DJIA losers were led by INTC (-2.56%), CSCO, MSFT, AXP, BAC, HPQ, MMM and JPM.

Speaking of JPM, they report earnings tomorrow morning before the open. Look for some action in that name, London Whale and all.

It is looking to me like lots of selling before the woeful earnings reports roll in on Dow and S&P 500 names.

I had been nibbling on the retreat, but am rethinking that and will probably hold off until I see the green of aa bounce.

INTC, JNJ and KO all report earnings next week on the 17th.

Dow components Merck (MRK) and Wal-Mart (WMT)again notched new 52 week highs today.

New High of the Day – Merck (MRK).

New High of the Day – Wal-Mart (WMT).

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