March 29, 2024

Hospitals rocket as Supreme Court rules

Index & Sector performance 6/25/15

 

The Market:

After an early morning small pop, which helped work off some of the very short-term oversold levels, the market declined the rest of the day finishing near the session’s lows.

Energy (XLE) was the largest losing sector on the WSC Scoreboard followed closely by Transportation (IYT) which was the biggest loser yesterday.  However, we would be watching the IYT as it appears to be coming into a support region and could soon provide a trade set-up to the long side.

Health Care (XLV) was the lone green sector on the Scoreboard as the Supreme Court ruled that Affordable Care Act (Obamacare) subsidies are legal.  Leading the charge was Hospital stocks like Community Health (CYH), Tenet Heathcare (THC), HCA Holdings (HCA), and LifePoint Health (LPNT) which finished up 12.97%, 12.24%, 8.82%, and 7.64% respectively.

Greece continues to overhang the market and traders may be concerned going into the weekend with positions which could put a ceiling on the market tomorrow and even cause a late day sell off.

 

Economic Calendar week of 6/22/15

 

Reporting EPS 6/26/15 Pre-Market:

We show no noteworthy stocks schedule to report.

 

Analyst Comments:

Upgrades 6/25/15

Downgrades 6/25/15

Initiations 6/25/15

Price Target Changes 6/25/15

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