September 18, 2019

Early pop leads to late day drop

Index & Sector performance 3/11/14

The Market:

The  market rallied pre-market into the open, pulled back and went again but was unable to break through a pivot confluence resistance area.  The pullback into the noon EST period started to consolidate but the MACD was telling that more downside was likely.  As we reached the 2-2:30 pm EST time frame the S&P again started to weaken and broke to fresh lows for the day.

We will be watching for $1860ES and then further $1850ES for support levels.  On the S&P500 cash index the 20 day SMA comes in around $1853.

In economic date the NFIB Small Business Index, JOLTS Job Openings and Wholesale Inventories all came in lighter than expected with JOLT and Wholesale Inventories also revising the previous reported number lower.

 

S&P500 emini (ES) 3/11/14 (click to expand)

Economic Calendar week of 3/10/14

 

Reporting EPS 3/12/14 Pre-Market:

Companies Reporting EPS 3/12/14 Before Market Open


Analyst Comments:

Upgrades 3/11/14

Downgrades 3/11/14

Initiations 3/11/14

Price Target Changes 3/11/14

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