October 20, 2019

Pop off support as FOMC looms

The Market:

A nice snap back rally today as the S&P 500 continues to hold the 200 day SMA.  We would not be surprised to see limited action overnight and in early trading tomorrow as traders wait to see what the Fed says at 2pm ET.

Yesterday’s laggard, Energy (XLE), is today’s leader finishing up 2.86% followed closely by Transportation (IYT) which finished up 2.75%.  Also posting strong sessions was Materials (XLB), Industrials (XLI), and HeathCare (XLV) finishing up 2.09%, 1.94% and 1.81% respectively.

FOMC statement tomorrow and remember we are still in the thick of earnings reports which will continue to drive market action.


Economic Calendar week of 7/27/15


Reported EPS 7/28/15 After the Close:

Reporting EPS 7/28/15 After the Close


Reporting EPS 7/29/15 Pre-market:

Reporting EPS 7/29/15 pre-market

Analyst Comments:

Upgrades 7/28/15

Downgrades 7/28/15

Initiations 7/28/15

Price Target Changes 7/28/15

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