DailyWatch 6.22.2016

 

Today’s Economic Calendar

7:00 MBA Mortgage Applications
9:00 FHFA House Price Index
10:00 Existing Home Sales
10:00 Yellen delivers semi-annual monetary policy testimony
10:30 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $34B, 7-Year Note Auction

 

Daily Market Summary

The S&P futures are basically flat this morning hovering right around the 2080 level we have talked about for a long time! Crude at $50. New day, same story. Continue reading “DailyWatch 6.22.2016”

DailyWatch 6.21.2016

 

Today’s Economic Calendar

 

 

8:55 Redbook Chain Store Sales
10:00 Yellen delivers semi-annual monetary policy testimony
1:00 PM Results of $34B, 5-Year Note Auction

 

 

Daily Market Summary

The S&P futures are up 9 in early morning trading. Remember the markets opened up big yesterday but we warned that the S&P was trading near its resistance. It fell most of the day and was not able to close above 2080. Continue reading “DailyWatch 6.21.2016”

DailyWatch 6-16-16

 

Today’s Economic Calendar

7:00 MBA Mortgage Applications
8:30 Producer Price Index
8:30 Empire State Mfg Survey
9:15 Industrial Production
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
4:00 PM Treasury International Capital

 

Daily Market Summary

The S&P futures are off about 10 handles this morning. Although some positive news coming out about the Federal Reserve potentially raising rates, there is still the question of will England leave the EU. Continue reading “DailyWatch 6-16-16”

DailyWatch 6-15-16

 

Today’s Economic Calendar

7:00 MBA Mortgage Applications
8:30 Producer Price Index
8:30 Empire State Mfg Survey
9:15 Industrial Production
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
4:00 PM Treasury International Capital

 

Daily Market Summary

The major averages are trading in a fairly narrow band as we await the FOMC meeting at 2:00 pm. We should hear information on interest rates and the state of the economy from Janet Yellen. I would expect to see volatility after the announcement.
We are still in State 1 in our major averages, so until we break down and move to State 2 i will remain bullish. Often times when news breaks, we will then be told why the markets moved. Clearly the markets are nervous, however, i will go with the math and stay bullish for now. Again, look for the 2080 level in the futures as resistance and 2030 for support. Currently, we are trading 2071. In our Market Pulse Index, we have not had a major correction without a reading above 60% of stocks we follow in State 1. I would expect to see the market have a decent rally over the next few weeks to bring the percentage of stocks into State 1 higher before a major correction.

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Stocks on the Move

 

  • SPG- Simon Property Group
  • STATE 1
  • YESTERDAY’S CLOSING PRICE $202.82
  • TARGET PRICE  $220
  • AVERAGE DAYS IN STATE 1- 34 DAYS
  • AVERAGE STATE 1 MOVE- 8%

Capmark Solutions LLC and/or its principals and employees will accept no liability whatsoever for any loss arising from any use of the Key2Options program. The information contained in this blog, or in other related resources is for educational purposes only. Neither Capmark Solutions LLC nor Key2Options, Inc. offer trading advice of any kind.

DailyWatch 6-14-16

 

Today’s Economic Calendar

FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Retail Sales
8:30 Import/Export Prices
8:55 Redbook Chain Store Sales
10:00 Business Inventories

 

Daily Market Summary

We broke through the support at 2080 on the S&P futures. We now have a range of 2030 to 2080. We still are in State 1 so we will watch to see if we can rally. Our market pulse is down to 41% in state 1. Continue reading “DailyWatch 6-14-16”

DailyWatch 6-10-16

 

Today’s Economic Calendar

10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
2:00 PM Treasury Budget

Daily Market Summary

 

 

Is this the end of the Bull run? Not so fast. Let’s not hit the panic button quite yet. If you have been reading my blog for a while you know i have said i am looking for a big correction this year in the S&P. I think we will test 2134 and fail. We got to 2119 and have retreated this morning to 2092 area. I am watching to see if we hold 2082 today. I expect a pullback and then another attempt to go back towards the 2134 area. The market doesn’t go straight up or down. As i wrote yesterday, our market pulse index has increased to 43% this morning. This means that 43% of the stocks we follow are now in State 1. We are starting to get into overbought territory. The S&P are down 12 handles this morning. Typically we see 20 handle moves. Lets see if they hold 2092 and go back higher today or if they run them down to the 2082 level. A close below 2082 is where i will begin to think about shorting the S&P futures

 

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Stocks on the Move

GDOT- Green Dot
STATE 1
YESTERDAY’S CLOSING PRICE $22.61
TARGET PRICE $27.14
AVERAGE DAYS IN STATE 1- 31 DAYS
AVERAGE STATE 1 MOVE- 15%
Capmark Solutions LLC and/or its principals and employees will accept no liability whatsoever for any loss arising from any use of the Key2Options program. The information contained in this blog, or in other related resources is for educational purposes only. Neither Capmark Solutions LLC nor Key2Options, Inc. offer trading advice of any kind.