May 19, 2019

Market churns while XLU heads lower

Index & Sector performance 2/25/15

The Market:

Another day of churn as the market continues to grind with an upward bias.  As we posted over at StockTwits we are starting to see a lot of negative divergence setting up on the MACD.  Divergence is not a trigger itself but is showing signs that each move higher comes with less momentum and excitement.

Utilities (XLU) was the leader to the downside and a name we recently posted about in the Charts section.   After seeing a lot of people bullish on the name, we laid the road map we felt the Bulls should hope for but noted that we still see a lot of risk that the 2/17/15 lows will be revisited or breached.  Unfortunately for the Bulls, the XLU was unable to rally toward our bullish region (above $47) and was rejected on the first test of the downward sloping 20 day SMA.  Those long the XLU, in our opinion, should be paying very close attention to the $44-45 support region — if lost there could be a quick move to the downside.

In Economic Data, New Home Sales came in better than expected and tomorrow we will be watching CPI and Unemployment Claims which come out before the open.  In addition there is a slew of earnings.


Economic Calendar week of 2/23/15


Reporting EPS 2/25/15 After the Close:

Companies reporting EPS 2/25/15


Reporting EPS 2/26/15 Pre-Market:

Companies reporting EPS 2/26/15 pre-market

Analyst Comments:

Upgrades 2/25/15

Downgrades 2/25/15

Initiations 2/25/15


Price Target Changes 2/25/15

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