FOMC statement & new Chair tomorrow

Index & Sector performance 3/18/14

The Market:

We would not be shocked to see the market meander overnight and into tomorrow until the FOMC statement and Fed Chair Janet Yellen’s first press conference.  While we do not expect there to be a great difference in message or tone from the Fed, do not be surprised if the market uses this opportunity to send a message to Yellen if there is something that is not liked.

In the meantime, traders should watch  today’s high of 1867ES as a break could be signaling a move to 1880ES and the index should see support at 1858ES and then 1848-50ES.

S&P500 emini 3/18/14

Economic Calendar week of 3/17/14

Reporting EPS 3/19/14 Pre-Market:

Companies reporting EPS 3/19/14 pre-market

Analyst Comments:

Upgrades 3/18/14

Downgrades 3/18/14

Initiations 3/18/14

Price Target Changes 3/18/14