Welcome Stockaholics to the trading week of October 15th! 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: What to Watch in the Week Ahead: Monday Earnings: Bank of America, JB Hunt 8:30 a.m. Retail sales 8:30 a.m. Empire State manufacturing 10:00 a.m. Business inventories Tuesday Earnings: BlackRock, Goldman Sachs, Morgan Stanley, Johnson and Johnson, IBM, Netflix, Charles Schwab, CSX, United Continental, Cree, Lam Research, Comerica 8:30 a.m. Business leaders survey 9:15 a.m. Industrial production 10:00 a.m. NAHB survey 10:00 a.m. JOLTs 4:00 p.m. TIC data 4:15 p.m. San Francisco Fed President Mary Daly Wednesday Earnings: Abbott Labs, Northern Trust, US Bancorp, Alcoa, Kinder Morgan, Crown Holdings, Kaiser Aluminum, M&T Bank, Winnebago 8:30 a.m. Housing starts 12:10 p.m. Fed governor Lael Brainard 2:00 p.m. FOMC minutes Thursday Earnings: Blackstone, American Express, Travelers, Novartis, Philip Morris, SAP, Danaher, PayPal, Intuitive Surgical, ETrade, Skechers, Sonoco Products, Bank of the Ozarks, PPG, KeyCorp, Nucor, Snap-on, Bank of NY Mellon, Genuine Parks, BB&T, Taiwan Semiconductor 8:30 a.m. Initial claims 8:30 a.m. Philadelphia Fed manufacturing 9:05 a.m. St. Louis Fed President James Bullard 12:00 p.m. Fed Vice Chair Randal Quarles Friday Earnings: Procter and Gamble, Honeywell, Schlumberger, State Street, SunTrust, Synchrony Financial, Kansas City Southern, Citizens Financial, Cleveland-Cliffs, Gentex 10:00 a.m. Existing home sales 12:45 p.m. Dallas Fed President Rob Kaplan
Global Markets Dump $6 Trillion As "Loco" Fed & Trade Turmoil Spark Panic What's $6 trillion between friends? "Everybody else was buying so I followed in their tracks..." Global Capital Markets aggregate 'wealth' collapsed in the last two weeks... (bonds first, then stocks)... 79 of 94 global equity indices ended the week red... China started badly and ended worse - biggest weekly loss since Jan 2016... European stocks were a bloodbath, closing on their lows this week (second worst week since Jan 2016) at the lowest since Jan 2017...Italy was worst on the week (and is now in a bear market) US equity markets were clubbed like baby seals... Catching down to the rest of the world... But a late Friday afternoon bounce flattered them in the end (see you Sunday night)... It wouldn't be 'Murica if we closed red on a Friday...all of which lines up the perfect narrative that this confirms the worst is over Take your pick of the headlines: *S&P 500, DOW AVERAGE, NASDAQ 100 END WORST WEEK SINCE MARCH *S&P 500 RALLIES 1.4% FOR BIGGEST GAIN SINCE APRIL *NASDAQ 100 SURGES 2.8% IN BEST RALLY SINCE MARCH All US equity sectors were red on the week led by Materials and Industrials (and Financials floundered today despite the earnings)...Utes outperformed (but were still down 1.7%) On the month so far, it's carnage: Nasdaq 100 is on course for the worst month since Nov 2008 Small Caps are on course for the worst month since September 2011 S&P is on course for the worst month since August 2015 (China Deval) All the major US equity indices ramped back up to their 200DMAs... (Russell well below, Dow to its 100DMA) Interestingly, Value/Growth ended almost unchanged on the week... FANGs were down on the week, but bounced today... Small Caps joined Transports in the red YTD... Tech, Consumer Discretionary, and Healthcare all together at the top as best performers of the year (but well off the highs) - all other sectors are red for 2018 with Materials worst... US Equity breadth is a disaster... VIX spiked almost 9 vols on the week - the biggest weekly jump since March, doubling since 10/3 as the curve massively inverts... And the Put-Call Ratio is spiking... HY Bonds were right... again! Corporate bond breadth was also a catastrophe this week... as new 52-week lows spike in IG and HY... Away from the bloodbath in stocks, bonds were notably bid... (maybe they just needed that day off on Monday?) With 10Y Yields dropping most in 5 months (after last week's biggest yield rise since Nov 2016)... The yield curve flattened notably on the week... The Dollar Index fell on the week (after two straight weeks higher) But remains rangebound.. China fixed the yuan lower every day this week, clearly signaling something to Trump, as yesterday's epic spike in Yuan roundtripped today.. Crypros were not spared from the carnage - dumping on Wednesday night when Asia opened (and KRW plunged)... Black Gold was battered (global growth/demand and inventories) as Yellow Gold surged... WTI Crude had its worst week since May, testing down to a $70 handle... Oil tracked stocks - simple Gold just had its best two-week gain since January... Silver did not managed new highs... Gold in Yuan remains well managed... * * * What does it mean when the most systemically important banks in the world are down 26% from their highs and accelerating lower? Is this it?
Spoiler: Weekend Reading: We Are All In...Again! Authored by Lance Roberts via RealInvestmentAdvice.com, Despite the recent angst in the market over increasing interest rates, there has been little evidence of concern by investors overall. A recent report showed that investors have the LEAST amount of cash in their investment accounts…EVER. “Individual investors drew down cash balances at brokerage accounts to record lows as the S&P 500 surged 7.2 percent in the three months ended Friday. Cash as a percentage of assets among Charles Schwab Corp. clients in August fell to 10.4 percent, matching the level in January that marked the lowest since at least 2004.” Of course, eight months ago the markets suffered a 10.4% decline just as investors scrambled to “get in.” The monthly survey from the American Association of Individual Investors shows the same. Individuals are carrying some of the highest levels in history of equities, are reducing their exposure to bonds, and carrying very low levels of cash. As Dana Lyons recently noted: ” From the Federal Reserve’s Z.1 release, we find that U.S. Households had a reported 34.3% of their financial assets invested in the equity market as of the 2nd quarter. Outside of a slightly higher reading in the 4th quarter of 2017, that is the highest level of stock investment in the 70-plus year history of the series, other than the 1999-2000 bubble top.” Investors are once again….“all in.” And the market once again tumbled. The one thing we know for sure is that individual investors do exactly the opposite of what they should when it comes to investing – “buy high” and “sell low.” Households have repeatedly learned, and then subsequently forgotten, this lesson repeatedly over the entirety of the financial market history. The challenge, of course, it understanding that the next major impact event, market reversion, will NOT HAVE the identical characteristics of the previous events. This is why comparing today’s market to that of 2000 or 2007 is pointless. Only the outcome will be the same. The reality is that the majority of investors are ill-prepared for an impact event to occur. This is particularly the case in late-stage bull market cycles where complacency runs high, risk is dismissed for chasing returns, and value is displaced by momentum. The recent sell-off was NOT the impact event. That event is still coming, and the discussion of why “this time is not like the last time” remains largely irrelevant. Whatever gains that investors garner in the between now and that next event by chasing the “bullish thesis” will largely be wiped away in the swift and brutal downdraft. The routs in February and October are only early warnings of how swift and brutal the actual event will be. Of course, this is the sad history of individual investors in the financial markets as they are always “told to buy” but never “when to sell.” You can do better. Just something to think about as you catch up on your weekend reading list. Economy & Fed US Loses Its Entrepreneurial Edge by Caroline Baum via MarketWatch Recession Would Slash Wealth By $5 Trillion by Tyler Durden via ZeroHedge Will The Fed Only Stop When Something Breaks by Paul Hoffmeister via Camelot Portfolios Will The Fed Go To Far? by Kathy Jones via Schwab Home Buyers Dilemma: Wages & Price by Mike “Mish” Shedlock via MishTalk.com A $1 Trillion Dollar Blunder by Stephen Moore via The Washington Times The World Is Quietly Decoupling From The U.S.by Brandon Smith via Alt-Market Economy Is On A Sugar High by Danielle DiMartino-Booth via Bloomberg September’s Job Report Okay, Not Great by Upfina Oil Prices Entering The “Red Zone” by William Watts via MarketWatch IMF: Global Economy At Risk by Levi Winchester via Express Markets Goldman: Markets Repricing US Growth by Tyler Durden via Zerohedge Get Ready For An 8-13% Correction by Mark Hulbert via MarketWatch Ignore This Indicator Which Has Always Been Right by Shawn Langlois via MarketWatch S&P’s Q3 Rally Not All That It Was Cracked Up To Beby Dan Caplinger via Motley Fool Fred Hickey: The Crash Is Coming by Christoph Gisiger via Finanz Und Wirtschaft Interest Rates Break Out, But Will It Last by Dana Lyons via The Lyons Share A Replacement For LIBOR Gains Traction by Simon Constable via Forbes Investing Success By Felix Grandluckmeister by Mike Harris via Price Action Lab Sell Off Could Be An Opportunity For The Bulls by Ryan Vlastelica via MarketWatch Extremes In The Bond Market by Callum Thomas via Topdown Charts Edwards: Equity Investors Face The 4-Horseman by Tyler Durden via ZeroHedge Reframing Risks & Opportunities In Rates by Seth Levine via Dlacalle.com When The Music Stops, Make Sure You Have A Chair by John Hussman via Hussman Funds Roadmap For The Upcoming Treasury Bull Market by Eric Hickman via Advisor Perspectives Most Read On RIA Markets Fail To Hold Support by Lance Roberts Why The Fed’s Monetary Policy Is Still Accommodative by Michael Lebowitz The Upcoming Bond Bull Market by Lance Roberts Analyzing This Years Returns by John Coumarianos Bonds Are Dead…Again by Richard Rosso All Markets Are Cyclical, When Will This One End by Lance Roberts Research / Interesting Reads BIS Issues Urgent “Zombie Alert” by Nomi Prins via The Daily Reckoning Dalio: The Risk Of War With China Is Spreading by Ray Dalio A Death Knell For TSLA If Tax Break Is Repealed by Jeremy Dillon via Roll Call Why Did All The Money Printing Not Trigger Inflation by Wolf Richter via Wolf Street Yes, Bond Yields Really Matter For Markets by John Stepek via MoneyWeek On Wall Street The Bond Market Sets The Tone by Matt Phillips via NYT Is It Time To End Useless Rating Agencies by Stephen Moore via The Washington Times Retirees Should Feel Very Worried Right Now by Paul Brandus via MarketWatch 5-G Devices Are About To Change Your Life by David Pogue via Scientific American Bad Financial Moon Rising by William White via Project Syndicate “Investors always decide to do the same thing, at the same time, and it is usually the wrong thing.” – T.R. Roberts.
Here are the percentage changes for the major indices for WTD, MTD, QTD & YTD in 2018- S&P sectors for the past week-
Biggest Earnings Reports to Watch Next Week Earnings season began this week, but as shown in the chart below, things don’t really pick up until next week and beyond. Next week, companies with a combined $5.5 trillion in market cap will report Q3 numbers, while $11.2 trillion in market cap will report the following week. From our Earnings Calendar tool, below is a list of the 40 largest companies set to report their Q3 numbers next week. For each company, we include key info like its historical earnings beat rate, its average one-day price change in reaction to earnings, and its average absolute one-day price change in reaction to earnings. The average absolute number tells you how volatile a stock normally is on its earnings reaction day. On Monday we’ll hear from two more big Financial sector firms — Bank of America (BAC) and Charles Schwab (SCHW). Johnson & Johnson (JNJ), Goldman (GS), UnitedHealth (UNH), and Morgan Stanley (MS) are set to report on Tuesday morning, while Netflix (NFLX) and IBM will headline Tuesday after the close. Netflix is by far the most volatile of the big companies reporting earnings next week with an average absolute move of +/-13.24% on its earnings reaction days. Wednesday is relatively slow on the earnings front as Abbott Labs (ABT) is the only $100+ billion company reporting that day. On Thursday we’ll hear from PayPal (PYPL), American Express (AXP), and Intuitive Surgical (ISRG) after the close. Finally, Procter & Gamble (PG), Honeywell (HON), and Schlumberger (SLB) will round out the week with reports on Friday morning. Of the names listed, JNJ, UNH, GS, ISRG, and NFLX have the highest earnings beat rates, while CSX, BX, PYPL, ISRG, and CP have historically experienced the biggest gains on their earnings reaction days. Bespoke’s Most Volatile Stocks on Earnings In late September we started to notice that stocks that were reporting earnings were falling sharply in reaction to the news. This did not portend well for the upcoming earnings season that begins this week. We viewed the share-price weakness for stocks that reported earnings in September as a sign of things to come. Given how weak equities have been so far in October, it appears that the market took notice of the earnings weakness in September as well. We’ve seen a sharp sell-off in stocks — particularly growth stocks that are volatile on earnings — ahead of their upcoming report dates, which suggests to us that the market is pricing in earnings weakness. For bulls, the hope now is that the re-pricing of shares to much lower levels ahead of earnings has actually gone a bit overboard. Below is our regularly updated list of the most volatile stocks on earnings. To make the list, a stock must trade for more than $5/share and have at least 10 quarterly reports in our Earnings Screener database. The 35 stocks below all average a move of at least +/-12% on their earnings reaction days, so you can expect big volatility when they report in the upcoming weeks and months. We mentioned above that stocks have been selling off sharply ahead of their earnings reports this season. Well, the 35 stocks in the table below have averaged a decline of 9% so far this month! We’d call that a pretty sharp sell-off, and it shows just how spooked investors are ahead of this earnings season. Again, the only hope for investors now is that the selling has been exhausted, which should lead to gains when the actual earnings news event occurs. The Container Store (TCS) is the most volatile stock on earnings with an average absolute one-day change of 16.8%. Yelp (YELP) ranks second, followed by NeoPhotonics (NPTN) and Infinera (INFN). Other notables on the list include Wayfair (W), Netflix (NFLX), Travelzoo (TZOO), Twitter (TWTR), GrubHub (GRUB), and iRobot (IRBT). For each stock, we also include its MTD and YTD change along with its short interest as a percentage of float. Stocks that have gotten crushed and have high short interest levels are the most ripe for a big upside move provided the earnings are decent when they’re released in the coming weeks. Stocks that haven’t fallen very much recently that have low short interest levels are the most ripe for a big sell-off in reaction to earnings should the numbers not impress. Individual Investors Leaving The Bullish Camp With the market’s reversal over the past week, as expected, investor sentiment has been becoming less bullish. From the AAII survey of individual investors, bullish sentiment had its largest one week drop since mid-November 2017, falling 15.05 percentage points. Bullish sentiment is now down to 30.6% from 45.66% last week. This is the lowest level for bullish sentiment since the first week of August, but it’s still pretty far from the lowest level on the year that we saw in April when it fell to 26.09%. Investors flooded into the bearish camp this week with the largest one week rise in bearish sentiment since June. Bearish sentiment rose to 35.5%; the highest level since the first week of July. Not all investors that are no longer bullish have become bearish, though. Neutral sentiment has seen an uptick this week moving to 33.9%, which is back to around where it was a couple weeks ago. Since this survey was released this morning, the current reading may not have picked up on the full impact of yesterday’s movements on investor sentiment, which we would expect to cause investors to heavily flock towards uncertainty. If this small lag is the case, next week we could be in for an interesting release. Jobless Claims Tick Higher Jobless claims came in higher than expected this week but still remain right near their lows of the cycle. While economists were expecting first time claims to come in at a level of 207K, the actual reading came in at 214K. Despite the higher than expected reading, claims have still been at or below 300K for a record 188 straight weeks, at or below 250K for 53 straight weeks, and at or below 225K for 14 straight weeks. By all accounts, claims remain low. The four-week moving average for claims increased from 207K up to 209.5K. That’s just 3.5K above the cycle low of 206K from mid-September, but based on the recent readings, it doesn’t look as though we will challenge that low anytime soon. On a non-seasonally adjusted (NSA) basis, jobless claims also ticked higher but managed to stay below 200K. At 199.2K, this week’s reading was the lowest for the current week of the year since 1969 and more than 120K below the average of 323.3K for the current week of the year dating back to 2000. Signs of a pickup in claims still aren’t showing up. FAANG+ Flush This week has been a pretty brutal one for growth stocks. One of the best ways to see this is the performance of the NYSE FAANG+ Index, which has flat-out collapsed. The index is slightly broader than the traditional FAANG (Facebook, Amazon, Netflix, and Alphabet, formerly Google) index, and it currently includes Apple (AAPL), Nvidia (NVDA), Twitter (TWTR), Alphabet (GOOGL), Facebook (FB), Amazon (AMZN), Netflix (NFLX), Tesla (TSLA), Baidu (BIDU), and Alibaba (BABA). As shown in the chart below, yesterday’s close brought the group’s decline to more than 18%, its second-worst drawdown since inception back in 2014. The length of the drawdown is also notable at 78 trading days, also the second-longest in the history of the index. EM Currencies Eye A Breakout Declines in emerging market currencies and other financial markets in EM have been a big driver of investor angst so far this year. Since April 18th, our equally-weighted index of EM currency performance versus the US dollar has dropped 11.8%; adjusted for interest rate differentials, it’s a slightly less painful but still large 9%. Despite global equity market weakness this week, EM currencies are starting to break out of their downtrend. While still tentative, a shift in trend to sideways price action instead of persistent declines would be a big deal for global asset markets, especially for equity markets outside the US. U. of Michigan Consumer Sentiment Misses Oct 12, 2018 Forecasts for the University of Michigan Consumer Sentiment predicted the preliminary October release to increase to 100.5 from last month’s 100.1. This morning’s release missed forecasts, falling to 99.0. While this is below previous levels, it is important to note that it is not a big drop in sentiment, nor is it low relative to recent years. Admittedly not by much, the 99 level is still above the average so far in 2018 of 98.5. The release cited part of the reason for declining sentiment was rising inflation expectations for the next year. The chart below shows the inflation expectations for consumers that are interviewed in this survey. Consumers have had steep declines in near-term inflation expectations recently, but October’s preliminary report actually saw an increase to 2.8% from 2.7% for expectations for next year. For a longer time horizon of the next five years, expectations have fallen to 2.3%, the lowest level since December 2016 and joint-lowest of the cycle. In addition, the survey mentioned weaker real income expectations alongside declining household income growth as reasons for the weaker index number. An important matter to note concerning this release is the interviews conducted in the survey had only one night of overlap with the downturn in the markets over the past week. In other words, this preliminary release is not likely to account for any large change in sentiment from this event. When the final release comes on October 26th, we should be able to see what effect, if any, the past few days of market declines have had, and how inflation expectations pan out for the rest of the month. Why Bulls Smile After Midterm Elections Volatility is heating up in October, with some big drops for stocks late last week. Now let’s put things in perspective. The S&P 500 Index just had its least volatile third quarter since 1963, and it hasn’t closed up or down more than 1% for more than three months in a row—one of the longest streaks ever. Not to mention the S&P 500 has been up six months in a row, and some type of volatility or correction is perfectly typical. It might feel bad when it happens, but pullbacks are a normal part of bull markets. “Some pre-midterm volatility could be in the cards, but the good news is that looking at the past 18 midterms (back to 1946), the S&P 500 was higher a year later every single time,” said Senior Market Strategist Ryan Detrick. This helps put in perspective just how much of a tailwind the calendar could be for investors here. As our LPL Chart of the Day shows, the S&P 500 has been up 14.5% on average a year after all midterm elections going back to 1946. In addition, all 18 midterms saw higher returns 12 months later. So “Sell in May” Didn’t Work This Year? Not so fast. The answer is: We don’t know yet, the Worst Six Months (WSM) are not over yet. People forget that Sell in May is NOT the whole seasonality. Our Best and Worst Months Tactical Switching Strategies are based on the Dow’s and S&P’s Best Six Months (BSM) from November through April and the Worst Six Months from May through October, and NASDAQ’s Best Eight Months (B8M) from November through June and the Worst Four Months (W4M) from July through October. The market’s rise from May through September was impressive, but folks forgot about October. NASDAQ just made its lowest close since May. And from our NASDAQ Best Eight Months Seasonal Sell Sign on June 21, 2018 at 7712.95 it’s down 5.0% at yesterday’s close. The past two days have reminded everyone of October’s frightful history of crashes, corrections and market calamities. Our October Almanac points out that October is the best midterm month, but we also warned of October’s scary record. “The term “Octoberphobia” has been used to describe the phenomenon of major market drops occurring during the month. Market calamities can become a self-fulfilling prophecy, so stay on the lookout and don’t get whipsawed if it happens…. This year is a midterm year, but the market has been resilient thus far during the Worst Months which may temper full-month October results.” October isn’t over yet, it could still be up solidly after another fast correction, which would likely also give us a sweet Seasonal MACD Buy Signal. Sell in May is not dead, but let’s not count our gains or corrections before they are fully hatched. The Worst Six Months May-October (AKA Sell in May) are not over. Q4 2018 is not over either, in fact it’s only just begun. So there is plenty of time for the 4th quarter rally to materialize as well as the “Sweet Spot” of the 4-year cycle we have spoken a great deal about lately. In all likelihood, the correction has a bit more to go, perhaps as deep as the correction in Q1 this year. Remember all the talk about how long we went without a 10% correction? Well welcome to a little mean reversion. That goes double for all the conjecture that Sell in May has not been working the past 5 years. NASDAQ B8M has. But nevertheless 5 years is not a cycle or statistically significant. Nine years is a little short, but the great recession low of March 2009 was a significant moment and as noted in the table below the BSM has outperformed the WSM, by a considerable margin since 2009 with more gains from NASDAQ’s Best 8 Months. In all likelihood, the correction has a bit more to go until folks start asking out loud “should I sell?” And that should set up our Best Months Seasonal Buy Signal nicely.
Stock Market Analysis Video for October 12th, 2018 Video from AlphaTrends Brian Shannon ShadowTrader Video Weekly 10.14.18 Video from ShadowTrader Peter Reznicek (VIDEO NOT YET UP!)
Here are the current major indices pullback/correction levels from ATHs as of week ending 10.12.18- Here is also the pullback/correction levels from current prices- ...and here are the rally levels from current prices-
Stockaholics come join us on our stock market competitions for this upcoming trading week ahead!- ======================================================================================================== Stockaholics Daily Stock Pick Challenge & SPX Sentiment Poll for Monday (10/15) <-- click there to cast your daily market vote and stock pick! Stockaholics Weekly Stock Picking Contest & SPX Sentiment Poll (10/15-10/19) <-- click there to cast your weekly market vote and stock picks! ======================================================================================================== It would be pretty sweet to see some of you join us and participate on these! I hope you all have a fantastic weekend ahead!
Here are the most anticipated ERs for this upcoming week ahead (I'll also have the weekly earnings calendar posted in here as well once it's out) ***Check mark next to the stock symbols denotes confirmed earnings release date & time*** Monday 10.15.18 Before Market Open: Spoiler: CLICK HERE TO VIEW MONDAY'S AM EARNINGS TIMES & ESTIMATES! Monday 10.15.18 After Market Close: Spoiler: CLICK HERE TO VIEW MONDAY'S PM EARNINGS TIMES & ESTIMATES! Tuesday 10.16.18 Before Market Open: Spoiler: CLICK HERE TO VIEW TUESDAY'S AM EARNINGS TIMES & ESTIMATES! Tuesday 10.16.18 After Market Close: Spoiler: CLICK HERE TO VIEW TUESDAY'S PM EARNINGS TIMES & ESTIMATES! Wednesday 10.17.18 Before Market Open: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S AM EARNINGS TIMES & ESTIMATES! Wednesday 10.17.18 After Market Close: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S PM EARNINGS TIMES & ESTIMATES! Thursday 10.18.18 Before Market Open: Spoiler: CLICK HERE TO VIEW THURSDAY'S AM EARNINGS TIMES & ESTIMATES! Thursday 10.18.18 After Market Close: Spoiler: CLICK HERE TO VIEW THURSDAY'S PM EARNINGS TIMES & ESTIMATES! Friday 10.19.18 Before Market Open: Spoiler: CLICK HERE TO VIEW FRIDAY'S AM EARNINGS TIMES & ESTIMATES! Friday 10.19.18 After Market Close: Spoiler: CLICK HERE TO VIEW FRIDAY'S PM EARNINGS TIMES & ESTIMATES! NONE.
And as promised here is the most anticipated earnings calendar for this upcoming trading week ahead- ($NFLX $BAC $GS $UNH $CLF $PYPL $IBM $JNJ $LRCX $DPZ $BLK $MS $PGR $ISRG $SCH $GWW $CSX $AA $ABT $WGO $JBHT $NUE $SLB $HON $CMA $BX $SKX $KMI $PG $ASML $AXP $URI $TSM $URAL $PLD $FHN $ETFC $INFY $PM $STI $USB $TXT $ERIC $BBT $CREE) If you guys want to view the full earnings post please see this thread here- Most Anticipated Earnings Releases for the week beginning October 15th, 2018 <-- click there to view!
i posted this on the weekly comp just a minute ago figured i'd cross-post it in here as well. will be interested to see if that daily 200ma will be supported once more...we haven't spent more than a day or two below it over the past 2 1/2 years.
That's a great chart. In the Nasdaq, that last drop was the first time that line was crossed in a long time.
Ok. On the 4 hour chart, there is an inside bar. And it looks like the price is going above that. So, let's go for that 2850 to 2870 level bulls!
The price will go back up, according to my theory. If the SPX collapses to 2700 to 2730, particularly, I am planning to buy more
The busy earnings season schedule starts tomorrow Market is looking a little fragile here, let's see if the earnings can give the market a little bit of a lift. I guess the concern is that some companies are going to cut their guidance due to tariffs and rising costs
much ado about nothing today in the market so far this month of oct. is living up to what is normally expected. interestingly enough however, as volatile as these past few weeks have been, believe it or not we're still not hitting the "average" as far as the avg. daily % moves in the month of oct. as illustrated in the chart below, the avg. daily move in the month of oct. since 1928 is +/-0.90% however (at least up to this point) we're doing an avg. of +/-0.77% although it is only mid-month still so we'll have to see if things get even more active in the final few weeks here's a chart i came across this afternoon that shows the avg. performance for the SPX during a midterm year since 1950. wonder if this will play out. we'll have to see
