July 22, 2018

The NightCap

The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting.  As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often  look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…

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…