Market bounces but finishes where it started

Index & Sector performance 6/17/15

The Market:

An initial gap higher in the morning was quickly sold as it appeared traders were hesitant before the FOMC Rate decision and statement.  After the announcement, the market pressed to new intraday lows but then quickly turned and rallied to new intraday highs before closing at the opening print.

Utilities (XLU) led the WSC Scoreboard sectors finishing up 0.84%.  The XLU reached our target support region and is making a move off that support after a long decline but still has a lot of resistance above and will need to show this is indeed a bottom and not a fake-out.

Today’s headline Economic data was the FOMC statement but tomorrow is another big data day with CPI, Unemployment Claims, and Philly Fed Manufacturing.

Economic Calendar week of 6/17/15

Reported EPS 6/17/15 After the Close:

Companies reporting EPS 6/17/15 after the close

Reporting EPS 6/18/15 Pre-Market:

Companies reporting EPS 6/18/15 pre-market

Analyst Comments:

Upgrades 6/17/15

Downgrades 6/17/15

Initiations 6/17/15

Price Target Changes 6/17/15