Europe's overnight reality check is weighing on stocks broadly but two names standout. Apple is down once again, and below its 50DMA for the first time in four months but it is Wal-Mart that is struggling under the weight of the Mexican debacle. Walmex is down over 25% at the open and WMT opened down over 5% on huge volume. Apple and Wal-Mart bounced out of the gate off those lows but are leaking back now.
Wal-Mart struggling after initial bounce as it gets dragged back to VWAP...
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As Walmex opens down over 20% and slides further...
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And Apple opened under its 50DMA, bounced and is now retesting it back below its VWAP...
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and is holding its 50DMA for now as momentum has clearly shifted heading into earnings - with the stock down over 10% in the last 2 weeks...
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