Early dip is bought, finishes flat
Posted by Admin on Thursday, July 30, 2015
The Market:
Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led.
The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs.
In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by Retail (XRT) which managed to finish up 0.66% on the session. Today’s biggest loser is a familiar name to the downside of late, Energy (XLE), closing down -0.70% for the session. We recently started watching an XLE name, Exxon Mobil (XOM). XOM has shown strength this week and could be starting to put in a bottom. Earnings are tomorrow pre-market and we will be interested in how the name reacts. A pullback may be an opportunity to enter with a stop below Monday’s low of $78.97.
Index & Sector performance 7/30/15
Economic Calendar week of 7/27/15
Reported EPS 7/30/15 After the Close:
Reporting EPS 7/30/15 After the Close
Reporting EPS 7/27/15 Pre-Market:
Reporting EPS 7/31/15 pre-market
Analyst Comments:
Upgrades 7/30/15
Downgrades 7/30/15
Initiations 7/30/15
Price Target Changes 7/30/15
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