May 21, 2019

QQQ & IWM reach new highs

Index & Sector performance 2/26/15

The Market:

More churn today in the markets but again the NASDAQ (QQQ) and Russell 2000 (IWM) showed more strength than the S&P 500 (SPY) with the QQQ and IWM reaching new 52-week closing highs on the session.

Crude oil lost over 5% today which helped send the Energy (XLE) sector 1.88% lower.  We noted in our 2/18/15 nightly recap when the XLE was trading above $81 that we would look for a pullback toward $78 as a buying opportunity.  Closing today at $79.35, we would ideally like to see lower levels before dipping into the XLE.  The USO is a slightly different story and we believe aggressive traders may want to look at a long trade on the USO using a stop below $17.50.

Economic data today was somewhat mixed as you can see below.


Economic Calendar week of 2/23/15


Reporting EPS 2/26/15 After the Close:

Companies reporting EPS 2/26/15 after the close


Reporting EPS 2/27/15 Pre-Market:

Companies reporting EPS 2/27/15 pre-market

Analyst Comments:

Upgrades 2/26/15

Downgrades 2/26/15

Initiations 2/26/15

Price Target Changes 2/26/15

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