March 22, 2019

S&P nearing last week’s low

Index & Sector performance 10/7/14

The Market:

After being rejected by the 50 day SMA yesterday, the S&P 500 (SPY), along with the other major indices on the WSC Scoreboard, followed up today with a strong down session.  So far the SPY has managed to stay above the 10/2/14 spike low but we are very close.

Utilities (XLU) continue to outperform on this recent down turn and after spending some of today in positive territory managed to only finish 0.14% lower.  Next best was the Consumer Staples down 0.59%.  Leading to the downside today was yesterday’s top loser, Transportation (IYT),  which more than doubled up on yesterday’s loss of 1.17% to finish today down 2.59%.

Again this is a light economic data week but traders will be watching the FOMC minutes to get more insight into what the Fed members are thinking.

 

Economic Calendar week of 10/6/14

 

Reporting EPS 10/8/14 Pre-Market:

Companies reporting EPS 10/8/14 pre-market


Analyst Comments:

Upgrades 10/7/14

 

Downgrades 10/7/14

Initiations 10/7/14

Price Target Changes 10/7/14

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