March 19, 2024

Huge intraday swings

The Market:

As expected, volatility continues and while we would not expect 100 point S&P days to become a common occurrence we do expect to see sharp swings both up and down.

Our current expectation is that the market will ultimately revisit this morning’s lows is not make new lows but in the short-term the market is very oversold and should stage some sort of rally — not just intraday like today but on a closing basis over a few days.  That rally will be very telling and if weak we could be setting up for much much lower and then there is always the aspect of time where this could begin to grind lower.

This week’s Economic Calendar is below and worth watching is Core Durables on Wednesday, GDP, Unemployment claims, and the start of the Jackson Hole summit Thursday, and any Fed speak.

 

Index & Sector performance 8/24/15

 

Economic Calendar week of 8/24/15 

 

Reporting EPS 8/25/15 After the Close:

Reporting EPS 8/25/15 After the Close

 

Reporting EPS 8/25/15 Pre-Market:

Reporting EPS 8/25/15 pre-market

 

Analyst Comments:

Upgrades 8/24/15

Downgrades 8/24/15

Initiations 8/24/15

Price Target Changes 8/24/15

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