January 24, 2019

Indices build on week’s gains

Index & Sector performance 8/14/14

The Market:

A good up day as all 4 broad indices on the WSC Scoreboard finished the day higher and the Russell 2000 (IWM) is now only X% down on the year.  The concern with this week’s bounce has been and remains to be the declining volume as we continue higher.  However, until the market turns lower and begins taking out support, traders must respect the price action.

In individual sectors, leading was HealthCare (XLV) which finished the day up 1.18% continuing to build on the strong week followed closely by yesterday’s laggard, Retail (XRT) which fell just shy of 1% up on the day.  Today’s laggard was Energy (XLE) which was the only sector on the WSC Scoreboard to close lower on the session.

In Economic data, Unemployment Claims slightly missed expectations but nothing that would scare the market.  We saw continued interest in bonds with the 30 year auction posting a better than expecting closing of 3.22%.  Tomorrow is a big data Friday and we will be paying close attention to PPI and the University of Michigan Consumer Sentiment report.

 

Economic Calendar week of 8/11/14

 

Reporting EPS 8/15/14 Pre-Market:

The only confirmed name we have reporting EPS 8/15/14 before the open is Estee Lauder (EL).  Yahoo Finance estimates are for $0.56.


Analyst Comments:

Upgrades 8/14/14

Downgrades 8/14/14

Initiations 8/14/14

Price Target Changes 8/14/14

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