After last week's solid stock market gains in response to a "phase one" U.S.-China trade deal, major indexes closed mostly off after Chinese state media suggested "the champagne should probably be kept on ice" until both nations' leaders actually sign it. But a handful of stocks continued to shine, including Lululemon Athletica (LULU) and Dow Jones staples Apple (AAPL) and Nike (NKE).
XAfter being up for much of the morning session, the Dow Jones Industrial Average gave way, falling 0.1%. The S&P 500, also in the green earlier, and Nasdaq both dipped 0.1% too.
The small-cap bellwether Russell 2000 Index dropped 04%, as oil prices plunged more than 2.2%, hitting small oil producers and equipment makers hard.
Volume fell sharply as many big players sat on the sidelines. NYSE turnover fell 33%, while volume on the Nasdaq dropped 39%, according to early data.
Despite the mixed results, the Dow, Nasdaq and S&P 500 have all recently regained their 50-day moving averages, a bullish sign for the recent rally. Only the Russell 2000 is still struggling to recapture the 10-week line
Shares of yogawear retailer Lululemon rose 0.7%. Lululemon stock now sits just below a 2o4.54 buy point out of a short flat base. Its relative strength line hit a new high on Monday. Lululemon was featured on the IBD 50 Stocks To Watch today.
After hitting an all-time high Friday, app and mobile communications behemoth Apple continued its winning ways, at one point rising 0.8% before gains faded. Apple gapped up 3.2% out of a flat base on Sept. 11, and has steadily advanced since then. It's now slightly extended above its 221.47 buy point.
Nike rose 1.1%, following an analyst upgrade from Bank of America. It's now extended beyond an 89.45 buy point out of a cup with handle.
Among exchange traded funds, Innovator IBD 50 (FFTY) moved up 0.6%. Since August 12, Innovator IBD 50 has struggled below the 50-day line and, more recently, the 200-day line. Now it sits just below the 200-day line and close to its 50-day average.
A number of software names also stood out.
Shopify (SHOP), which sells cloud-based e-commerce software to small and midsize businesses, jumped 4.5%. Right now it's building the right side of a consolidation pattern with a 409.71 buy point and is very close to retaking its 50-day line. It carries a 97 Composite Rating from IBD.
Another cloud-based enterprise software maker, Upland Software (UPLD), tacked on 2.3% and continued putting distance between its share price and the 10-week line. Upland stock went on a long slide in early July, but in recent weeks it has again sparkled.
On IBD's Stocks on the Move list, Israeli medical technology IPO InMode (INMD) gapped up 11.5% on a modest volume rise. InMode earns a stellar 99 Composite rating from IBD, which perfectly matches its 99 Relative Strength.
Read more about InMode's business in this new IBD Stock Of The Day.
Also on the list, home furnishings and appliances chain Aaron's (AAN) joined the parade of retailers showing market strength. Aaron's rose 1.3%. A look at IBD's Stock Checkup shows Aaron's has a powerful 98 Composite Rating and ranks third in its industry group, behind only RH (RH) and Sleep Number (SNBR).
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