Welcome Stockaholics to the trading week of September 11th! This past week saw the following moves in the S&P: Major Indices End of Week: Bird's Eye view of the Major Futures Markets on Friday: Economic Calendar for the Week Ahead: Sector Performance WTD, MTD, YTD: Here are the percentage changes for the major indices for WTD, MTD, QTD & YTD thus far in 2017- Here are the current pullback/correction levels for the major indices as of this week ending- Here are the most notable earnings releases calendar due out for this upcoming week ahead: ($ORCL $CBRL $PPHM $PSDV $LPTH $UNFI $AGTC $LAYN $RLGT $LMNR $IRET $FARM $LAKE $STB $STRM $TNP $ASPU $AMRK) ShadowTrader Video Weekly 9.10.17 - The Calm Before the Storm Video from ShadowTrader Peter Reznicek Have a wonderful trading week ahead this week everyone!
So, what are we all thinking here as far as market action for this upcoming week ahead? This will be our first full trading week in September. Anything in particular that you guys are keeping a close eye on? Rumors have it that NK may want to fire off another missile over this weekend (markets usually tend to shrug these off though?). Additionally we have major Cat 4 hurricane (Irma) which is expected to make landfall around Florida today. For those of you in Florida, please stay safe! According to Stock Trader's Almanac the 2nd half of September has typically been the weakest half to any month of the year. Curious to see if this plays out once again. Let's hear what you guys are watching. Hope you all have a very nice and relaxing weekend!
Looks like we've got new ATHs here. Amazing, I honestly didn't think we'd be seeing new highs until around EOY.
More and more countries coming on board with plans to remove gasoline powered engines from the roads within 20yrs. Not that TSLA will end up dominating the field, but they do have a nice head start.
Seems like the SPX has its eyes set on that round # 2500 ... I would be shocked if we didn't print that and maybe even overshoot it by a little until the next pullback. This market has been hella resilient. As of this Monday the SPX hasn't endured a -3% pullback off the highs in 10 months. This is the 2nd longest streak ever in history. Haven't seen -5% dip off the highs in more than 18 months... No -10% correction since Feb. 2016 and since the big bear market of 2007-09 ended, this is the 2nd longest running bull...we still have a ways to go to catch up to the big booming 90s bull run though.
Jamie Dimon calls bitcoin a 'fraud' http://money.cnn.com/2017/09/12/investing/jamie-dimon-bitcoin/index.html Jamie Dimon effect?
I dont think the sell off is because of his comments. The chart was already downtrending and sitting on support, this would have been selling off anyway.
man what a chop fest today! cash spx is trading in just a 0.20% daily range all day today. #boring meanwhile the nasdaq is eyeing its 48th ATH close for the year today which would tie that mark from 1997. '95 had 49 ATH closes. '83 and '86 had 55 ATH closes. the record is 61 in 1999. will we break that this year?
...and another late run into the close here ... looks like tomorrow could be the day we finally print 2500 on the spx if no black swans overnight
Yeah I think you might be onto something there. If the season patterns hold true we should finally see something of a meaningful pullback around Oct. as you alluded to. Charts below courtesy of Stock Trader's Almanac: 2 of the 4 seasonal patterns on the SPX are negative in Oct. Which one do we follow this year? The Nasdaq chart looks like it could follow the purple line. SPX: DJIA: NASDAQ:
