March 19, 2024

Shortened week but already big moves

Index & Sector performance 3/30/15

The Market:

Very strong rally across the board today with the Dow (DIA) leading the charge followed by the Russell 2000 (IWM) and then the S&P (SPY).  In the very short-term these indices are overbought and likely due for a consolidation.  The nature of the pullback will be telling if more upside is forthcoming or if we are heading back down toward the lows.

Energy (XLE) led the Sectors today closing up over 2% followed by Financial (XLF), Materials (XLB), and Industrials (XLI) all finishing up over 1.5%.  It was green across the board.

Please remember this is a shortened trading week with the market closing Friday in observance of Good Friday. Traders should be ready for a below average volume week.

In Economic data, Pending Home Sales posted a strong number far exceeding expectations.  Personal Income grew more than expected while Personal Spending came in lower than anticipated.  There appears to be a lot of Fed Speak this week but nothing from the Fed Chair so we are not expecting any fireworks.  What we will be paying close attention to is the Jobs number at the end of the week.

 

Economic Calendar week of 3/30/15

 

Reporting EPS 3/31/15 Pre-Market:

Reporting EPS 3/31/15 pre-market


Analyst Comments:

Upgrades 3/30/15

Downgrades 3/30/15

Initiations 3/30/15

Price Target Changes 3/30/15

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