May 24, 2019

Sharp snap back rally — SPY up YTD

Index & Sector performance 3/12/15

The Market:

Strong performance today with the Russell 2000 (IWM) leading the charge for the 2nd straight day followed by the Dow (DIA) and S&P 500 (SPY).  Friday will be an interesting session as traders will have to decide how they want to end the week.  In the very short term the SPY looks stretched so we would consider using a gap up tomorrow morning as a (very) short-term selling opportunity.

In individual sectors it was the Financials (XLF) which led the way finishing up 2.13% followed closely by Consumer Discretionary (XLY) which ended up 2.06%.  Only Technology (XLK) finished up less than 1% while Energy (XLE) was the lone loser closing down 0.64%.

Tomorrow we will be watching PPI and Consumer Sentiment to finish out the Economic Data week.


Economic Calendar week of 3/9/15


Reporting EPS 3/13/15 Pre-Market:

Companies reporting EPS 3/13/15 pre-market

Analyst Comments:

Upgrades 3/12/15

Downgrades 3/12/15

Initiations 3/12/15

Price Target Changes 3/12/15

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