Volatility & Chop continues

The Market:

Volatility continues to be the name of the game which is why you can have a 40+ point day like today and still have the S&P 500 within a range/wedge.  While it is possible that we extend today’s rally by gaping higher tomorrow, it is not our expectation and if we do open higher tomorrow we would watch the downward sloping 20 day SMA as resistance.

Overall, a light Economic Calendar this week Thursday and Friday having the most significant data points (Unemployment Claims, PPI, and Consumer Sentiment).

Index & Sector performance 9/8/15

Economic Calendar week of 9/7/15

Reported EPS 9/8/15 After the Close:

Reporting EPS 9/8/15 After the Close

Reporting EPS 9/9/15 Pre-Market:

Reporting EPS 9/9/15 pre-market

Analyst Comments:

Upgrades 9/8/15

Downgrades 9/8/15

Initiations 9/8/15

Price Target Changes 9/8/15