The patient's bill of rights legislation, which basically gives patients the right to sue their HMOs, made its way through the Senate, and HMO stocks are making their way lower.
Aetna Daily Chart
Shares of Aetna (NYSE:AET) haven't exactly been performing well lately, and the pending legislation has the stock 87 cents lower today. Aetna had made a brief attempt to crack resistance at $27, but that was eventually turned back. Aetna is now trying to hang on to weak support at $25, but might just find its way down to support at $23.
Cigna Daily Chart
Shares of Cigna (NYSE:CI) haven't been doing much better, dropping $41 from its December high. CI found some support at $88 and is trying to build a base, but resistance at $97.50 could be stiff. There is some mild support at $91, but support at $88 looks a lot stronger.
Overall the markets are mostly flat. 3M warning about earnings is hurting the Dow, but is trying to rally on the strength of Boeing and Johnson and Johnson. The Nasdaq is only up 5 points, but disk drives, software, semiconductors, and even networking are among the best performing sectors, all up over 1 percent.