February 21, 2019

XLU stands out in today’s action

Index & Sector performance 2/18/15

The Market:

A choppy session overall which ended up finishing flat.  Some negative divergence is building on the S&P 500 60 minute chart but, even when it leads to a pullback, the divergence can exist for many day.  We wouldn’t be surprised to see the index continue to meander and drift higher for the remainder of the week into Options expiration.

In individual sectors it was the Utilities (XLU) leading the way and by a wide margin finishing up 2.37%.  We would be watching the XLU closely here to see if it can build on today’s momentum after holding a key support region.  Today’s laggard is a familiar name to the downside, Energy (XLE), but still well off the lows this could be a consolidation preparing for a next leg higher.  A pullback toward $78 could be a trading opportunity.

Most of today’s Economic data was weak but traders appeared to be waiting for the FOMC minutes which brought about some optimism.  Tomorrow’s most important number are Unemployment Claims and the Philly Fed Manufacturing Index.


Economic Calendar week of 2/18/15


Reporting EPS 2/18/15 After the Close:

Companies reporting EPS 2/18/15 after the close


Reporting EPS 2/19/15 Pre-Market:

Companies reporting EPS 2/19/15 pre-market

Analyst Comments:

Upgrades 2/18/15

Downgrades 2/18/15

Initiations 2/18/15

Price Target Changes 2/18/15

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