S&P 500 remains above the 50 DSMA

Posted by Admin on Monday, April 7, 2014

Index & Sector performance 4/7/14

The Market:

Friday’s selling action continues on Monday as the S&P 500 index lost roughly 20 points. Today’s lows in the SPDR S&P 500 ETF (SPY) correlated nicely with previous levers of reaction and the 50 day SMA. If this short term support is lost we could see the cash index next targeting $1800 and even $1650-1700. In the meantime, aggressive traders could look to use today’s lows as a level to trade again on the long side for a bounce.

SPY Daily

Economic Calendar week of 4/7/14

Reporting EPS 4/8/14 Pre-Market:

Only one name of note reporting EPS tomorrow pre-market, ISCA (35c est).

Analyst Comments:

Upgrades 4/7/14

Downgrades 4/7/14

Initiations 4/7/14

Price Target Changes 4/7/14

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Wall Street Consensus

S&P 500 remains above the 50 DSMA

The Market:

Reporting EPS 4/8/14 Pre-Market:

Analyst Comments:

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