Stocks recover after early slide

Index & Sector performance 3/26/15

The Market:

Today’s session started of much worse than it ended with the futures losing ground in the overnight and early session causing a gap down which continued lower in early trading but manged to recover and stage a midday rally which even saw all 4 broad indices spend time up on the day.  In global news, traders were focused on Saudi Arabia’s bombing of Yemen which helped Crude Oil traded over $51 u more than 3% on the session.

We would not be signaling that the coast is clear yet and see risk in the short term to revisit and even break today’s lows but if we do see that happen it may provide a much better entry point for a swing trade to the long side.

While it was not by much, it is worth noting that the Materials (XLB) and Technology (XLK) managed to finish higher and the Financials (XLF) were only slightly down.  These would be names to watch in a recovery as they may lead to the upside.

The market may not be in a position to care about the Economic data but tomorrow we have GDP, Consumer Sentiment, and closing out the week a speech by Janet Yellen.

Economic Calendar week of 3/23/15

Reporting EPS 3/27/15 Pre-Market:

Companies reporting EPS 3/27/15 pre-market

Analyst Comments:

Upgrades 3/26/15

Downgrades 3/26/15

Initiations 3/26/15

Price Target Changes 3/26/15