October 20, 2017

The NightCap

The Market:

Overall it was another tight trading range session but the Russell 2000 (IWM) continued its underperformance and finished down over -1%.  It appears that traders may be on hold until the FOMC statement and rate decision tomorrow.

Transportation (IYT) sector was the hardest hit on the WSC Scoreboard as the sector ETF finished down -2.65% followed by yesterday’s biggest loser, Energy (XLE), which closed down -1.2%.  The biggest gaining sector on the session was HealthCare (XLV) which finished up 1.84% and was helped by Allergan (AGN), Biogen Inc (BIIB), Vertex Pharmaceuticals Inc (VRTX), and Mylan NV (MYL) which all managed to finish up over 5% on the session.  MYL is a very beaten name and one where a substantial bottom could now be in — stops would go below the recent lows of $37.59.

As noted above, tomorrow is the FOMC Statement and Rate decision so we would expect a relatively tight trading range going into the announcement followed by fireworks.

 

Index & Sector performance 10/27/15

 

Economic Calendar week of 10/26/15

 

Reported EPS 10/27/15 After the Close:

Companies reporting EPS 10/27/15 after the close

 

Reporting EPS 10/28/15 Pre-Market:

Companies reporting EPS 10/28/15 pre-market

 

Analyst Comments:

Upgrades 10/27/15

Downgrades 10/27/15

Initiations 10/28/15

Price Target Changes 10/27/15

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