[BRIEFING.COM] The S&P 500 (+0.5%) trades off its session high after testing, but failing to clear, second level technical resistance near the 2140 price level. The benchmark index rallied through initial resistance near the 2133 area at the open.
Q3 earnings season will really start kicking into gear here. Here are today's notable After-Hours ER: ($INTC $ISRG $YHOO $HA $CREE $NAVI $ADTN $LLTC $INKR $MANH $FMBI $FSB $UFPI $PNFP $HBHC $ASR $RNST $HOPE)
Pulling my hair out in bio land. IBB found the support I was looking for yesterday right on the 260 - 264 line and it's looking to confirm reversal. Yet... my bio's are, what word am I looking for? Keep it clean... LAGGING!
Not a single one of my trades from yesterday worked out for me. Didn't lose any money, except maybe a little in IBM. But didn't make any money either. Sad clown face.
The SPX is at 2143 at 9:36 a.m. T 10.18.16. I exited LOT 1 this morning at 2144 for profit taking and risk management. I didn't have a chance to enter LOT 2 at non above 2120 because it didn't hit that level again. I had entered LOT 1, as I mentioned, at 2128. I am all out 1. The SPX is at 2142 at 10 a.m. I'd prefer just profit taking and monitoring when it might be an opportunity to re-enter 2. The SPX continues to be 2142 at 11:44 a.m. I'd expect the price to be much higher by now since last week. Based on the price action, I would not be interested in buying at anything above SPX 2120. 2090 to 2100 would be an attractive level, however, if it were to ever hit that level.
Here is last week's newsletter. If you want to be put on the distribution list you can email me [email protected] https://drive.google.com/file/d/0B4o0o67kDdT8RVVvS2xpMGhJZlk/view?usp=sharing
Pre-Market ER for tomorrow: ($MS $STX $HAL $ABT $STJ $BBT $USB $RAI $TUP $CP $ASML $APH $BABY $MTB $SVU $UNF $PPBI $GPC $DOV $NTRS)
STEV went up 14.83% today and doubled in volume, I believe once it breaks the resistance level in the next fews days the price will dramatically increase. Several Indicators are the Stochastic RSI which showed a bullish trend, also the CCI indicator showed a positive signal. (STEV)Stevia is an all-natural, zero calorie sweetener estimated to replace 20% of the currently over $50 billion yearly global sweetener market – An all-new multi-billion dollar annual industry sector.
8th Year pattern back in play in an undecided election Whether looking at “All Presidential Election Years” or just “Eighth Years” in the charts below, the market is usually in rally mode near the end of October. Should the election go as polls suggest then the market will most likely track the “All Presidential Election Years” pattern to finish the balance of 2016. Should the election results be too close to call and trigger a recount in a state or possibly more, then the “Eighth Years” pattern would be back in play. An undecided outcome similar to November 2000 (an Eighth Year) would produce great uncertainty and could lead to declines similar to those that occurred then. DJIA dropped 5.1%, S&P 500 plunged 8.0% while NASDAQ imploded 22.9% (tech bubble burst, not likely to occur again as valuations are not as extreme now) in November 2000. In the undecided scenario, it would not be surprising to see the Fed skip a rate hike in December in order to provide some relief to the market.
Good morning Stockaholics! Spoiler: 10/19 Wednesday's Stock News Movers: MS, HAL, RAI, SVU, WFC, YHOO, INTC, SBUX, NWSA, MSFT, ISRG, HPE, V, AAPL 10/19 Wednesday's Stock News Movers: MS, HAL, RAI, SVU, WFC, YHOO, INTC, SBUX, NWSA, MSFT, ISRG, HPE, V, AAPL Good day Stockaholics! Happy Wednesday! Frontrunning: October 19 China third quarter GDP grows 6.7 percent as expected as construction booms, debt rises (Reuters) China Growing at 6.7% Opens Window to Deliver Debt-Curb Vow (BBG) U.S. expects Islamic State to wield chemical weapons in Mosul fight (Reuters) Iraq urges U.S.-led coalition to prevent Islamic State escape to Syria (Reuters) Fox national poll shows Clinton leading by six points (Hill) Trump's appeal for poll monitors draws tepid response from some supporters (Reuters) Clinton camp asks for change to handshake protocol at final debate(The Hill) The Video Defense About Her Emails Hillary Clinton Never Gave (NPR) EU believes free trade deal with U.S. won't be completed this year (Reuters) Hedge Fund Launches Dwindle to 16-Year Low as Returns Lag (BBG) How Yuan-Lending Curves and Ice Hockey Are Related (WSJ) ECB urges EU to curb virtual money on fear of losing control (Reuters) Paul Volcker: Breaking Up Big Banks Wouldn’t Help (WSJ) Philippine police van drives at protesters to break up anti-U.S. demo (Reuters) Why 27 Million Are Still Uninsured Under Obamacare (BBG) One of China's Poorest Provinces Puts Nation on Track to Beat 6.5% Growth (BBG) Morgan Stanley profit jumps 61.7 percent on trading comeback (Reuters) Halliburton posts surprise profit as expenses fall (Reuters) Saudi has little room to slow austerity drive, IMF says (Reuters) A Florida Orthodontist’s FOIA-Fueled, Anti-Clinton Crusade (BBG) Salesforce’s M&A Target List Excluded Twitter (WSJ) Look Who’s Driving the U.S. Housing Market (BBG) How One Goldman Sachs Trader Made More Than $100 Million (WSJ) Broken Indicators Mean It's Growing Harder to Spot Troubles in the Market (BBG) STOCK FUTURES NOW: YESTERDAY'S MARKET HEAT MAP: YESTERDAY'S S&P SECTORS: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE TRENDING PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): NUGT BANC INTC MS OMER GDX EBAY HAL USB JNUG DUST YHOO DOV STJ BBT ABT ASML RAI SBUX AXP JNK ISRG GPC STX TODAY'S EARNINGS CALENDAR: THIS MORNING'S PRE-MARKET NEWS MOVERS: source: cnbc.com Morgan Stanley — The investment bank reported quarterly profit of 81 cents per share for the third quarter, beating estimate of 63 cents a share. Revenue was also above forecasts, with Morgan Stanley's results helped by a surge in bond trading activity among other factors. Halliburton — The oilfield services company posted a surprise profit of one cent per share, compared to analysts' forecasts for a six cents per share loss. Revenue did come in below forecasts, but Halliburton's bottom line was helped by cost cuts. Reynolds American — The tobacco producer missed estimates by three cents a share, with quarterly profit of 61 cents per share. Revenue also fell short of forecasts. Supervalu — The supermarket chain matched forecasts with earnings of 10 cents per share, but revenue came up short due to weaker-than-expected sales at the retail level. Wells Fargo — Wells Fargo is delaying a planned 10-year bond sale after S&P revised the bank's credit rating outlook to "negative" from "stable." However, the bond is expected to price today, according to a Dow Jones report. Yahoo — Yahoo reported adjusted quarterly profit of 20 cents per share, six cents a share above estimates. Revenue was in line with forecasts. Yahoo has a deal in place to be sold to Verizon, but some doubts have recently been cast upon the deal because of the recently revealed 2014 data hack. Intel — Intel beat estimates by seven cents a share, with adjusted quarterly profit of 80 cents per share. The chipmaker's revenue also beat forecasts in what the company said was an "outstanding" quarter. Intel's results were helped by growth in its data center and cloud businesses, as well as better demand for personal computers. However, the shares are under pressure because of apparent disappointment over data center business growth rates. Starbucks — Starbucks named its first-ever chief executive officer for its China operations. Belinda Wong, who had been president of that unit, becomes CEO, with the coffee chain aiming to double its China presence to 5,000 stores by 2021. News Corp. — News Corp.'s Dow Jones unit has told its employees union that it is planning a restructuring because of ad sales volatility.The Wall Street Journal — a Dow Jones publication — reports that it is not yet clear what form the restructuring would take, but that it may involve a reduction in head count. Microsoft — The company's Surface tablets were the target of criticism from New England Patriots coach Bill Belichick, who said he will not use them anymore on the sidelines because the devices do not perform consistently. Intuitive Surgical — Intuitive Surgical reported adjusted quarterly profit of $6.19 per share, well above estimates of $5.14 a share. The surgical products maker's revenue was also above forecasts. However, shares came under pressure after the company maintained its prior full-year forecast. Hewlett Packard Enterprise — HPE reaffirmed its full-year forecast at a meeting with analysts, but the cloud services and solutions company said it would see some short-term pressure after two planned spinoffs close during the coming fiscal year. Visa — The credit card issuer increased its quarterly dividend by 2.5 cents to 16.5 cents per share, a rise of 18 percent. Apple — Apple plans to launch new versions of its Mac computers at an October 27 event, according to Recode. Have a good trading day to everyone in here on this Wednesday!
Market map into the 11AM eastern hour ... INTC the big loser on the day here. Oil strong with /CL above $52.
I'm a media conspiracy guy. When I read through the wikileaks and see all the coordination between the Democrats and the media to manipulate us with stories, I find it hard to deny there isn't a loose conspiracy to move America in a desired direction. This leads me to believe we will get more honest, negative news, during a Republican administration, and we will get excuses and ignored bad data during a Democrat administration. So, keeping this in mind. If Trump wins, we are looking at a market that looks like Clinton/Bush. A nice run up at the end of the Clinton administration because everything was unicorns and rainbows during the Democrat administration, and reality hits once the Republican gets in. If Clinton wins, I think we will see another four year bull market, lots of rainbows and unicorns, with the occasional sell off to let the steam out.
