Back test of the 20 & down
The Market:
Strong optimism in early trading was attributed to better than expected Retail Sales numbers and Unemployment Claims along with the stabilization of oil but in midday trading, after the S&P 500 (SPY) had rallied back to re-test its 20 day SMA, oil started to slide and took the SPY with it. While the table above shows the SPY up on the session, as it currently stands those gains have been entirely erased in the aftermarket.
We will be watching the overnight session to see if the S&P can stabilize, reverse, or if it will continue lower.
Reporting EPS 12/12/14 Pre-Market:
None to report.