DailyWatch 7-19-16

 

Today’s Markets

In Asia, Japan +1.4% to 16723. Hong Kong -0.6% to 21673. China -0.2% to 3037. India +0.2% to 27788.
In Europe, at midday, London -0.4%. Paris -1.2%. Frankfurt -1.2%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.3%. Crude -0.5% to $45.72. Gold +0.3% to $1333.20.
Ten-year Treasury Yield -4 bps to 1.54%

Today’s Economic Calendar

8:30 Housing Starts
8:55 Redbook Chain Store Sales

Daily Market Summary

The S&P futures are trading at 2056 this morning down about 4 in morning trading. As we have been saying, we have have reached conservative profit targets in many indexes. We still have some room to run higher though.

Our Market Pulse Index is at 44%. This is the beginning of overbought territory. We would expect to see a reading closer to 60% before we would see a significant pullback.

Stocks on the Move

  • NVAX- Novavax Inc
  • STATE 1
  • YESTERDAY’S CLOSING PRICE $7.59
  • TARGET PRICE  $9.07
  • AVERAGE DAYS IN STATE 1- 35 DAYS
  • AVERAGE STATE 1 MOVE- 33%