DailyWatch – May 19th 2016

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S&P futures are down 0.13% in morning trading
Crude oil futures are down 2.06%
Gold futures are down 1.62%
Bond Futures are up 0.25%

 

The S&P futures tested the 2030 level,  going as low as 2030.75 on Wednesday. In morning trading we are seeing the S&P trading at 2039. We will continue to watch for a breakout or breakdown of the trading range of 2030-2080. Our SPX model turned slightly negative yesterday and now is in State 2.

Yesterday we wrote, “Crude has reached its resistance at $49”. Crude is trading off over 2% this morning down to 47.64 this morning.

We are seeing many retailers fall into our State 8, extreme bearish condition. This is a concern as the consumer appears to be tapped out.

 

Stocks that entered State 1 yesterday:

TXN    TEXAS INSTRUMENTS INC.
STI      SUNTRUST BANKS INC

 

 

Stocks that entered State 8 yesterday:

COST COSTCO WHOLESALE CORP-NEW

 

Today’s Economic Calendar

8:30 Initial Jobless Claims
8:30 Philly Fed Business Outlook
8:30 Chicago Fed National Activity Index
9:45 Bloomberg Consumer Comfort Index
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
10:30 Fed’s Williams Speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

 

 

 

 

 

To learn more about our proprietary State Modeling and how to use it in your trading, visit us at Key2Options.com

Go to www.Key2Options.com to sign up for a membership.

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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.

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