Apple, Facebook, Tesla Falter, But These Stocks Are Thriving: S&P 500 Futures

Futures for the S&P 500 index, Nasdaq 100 and Dow industrial rose slightly early Tuesday morning vs. fair value following losses for the major averages. The Nasdaq composite led Monday's selling, testing its 50-day moving average as Facebook (FB) plunged through that key support, Tesla (TSLA) triggered multiple sell signals and Apple (AAPL) kept falling.

Meanwhile, a large number of mostly tech breakouts joined Apple and Tesla underwater, including Alibaba (BABA), Square (SQ) and Nvidia (NVDA). The Nasdaq composite slid 0.9%, while the big-cap Nasdaq skidded 1.1%, below its 50-day. But the S&P 500 index and Dow industrial lost just 0.2%.

Tech stocks, especially longtime big-cap leaders like Facebook, are having a rough go right now. But there are several sectors and specific industry groups that are faring well, with Dow components Boeing (BA), Chevron (CVX) and Home Depot (HD) in or near buy zones.

Facebook had been trading tightly in a flat base just below a buy point. But shares fell 4.5% to 162.87 on Monday in heavy volume, tumbling below their 50-day moving average and undercutting the low of their current consolidation. Tesla extended its post-breakout reversal to more than 7% below its 370.10 entry — and through its 50-day to boot — making that buy point invalid. Nvidia round-tripped a 9.5% gain from a buy point, sinking 4.5% to 171, below the 174.66 entry. Apple fell 0.9% to 150.55, following a 5% sell-off last week.