I'm not really certain that it will end, but I'm fairly certain that we will pull back significantly before we advance again. ... Or maybe we stay in this multi year range, either way we pull back imo.
Eventually every bull market ends, there just may be no bears left when this one finally ends. Yeah a 10% pull back followed by another rally back near ATH before the end of this year would certainly be consistent with the last 2 years.
Early movers: PEP, AVG, JPM, MSFT, COST, TSLA PepsiCo — The snack and beverage giant reported adjusted second quarter profit of $1.35 per share, five cents a share above estimates. Revenue also exceeded forecasts. The company said it was pleased with its quarter, especially considering the volatile global economic environment. Western Digital — The hard disk drive maker raised its guidance for the fiscal fourth quarter that ended July 1. Western Digital also announced the appointment of Mark Long as executive vice president/finance, with Long becoming chief financial officer on September 1. AVG Technologies — AVG will be bought by Dutch security software rival Avast Software for $1.3 billion in cash, or $25 per share. The price represents a 33 percent premium to AVG's Wednesday closing price. WhiteWave Foods — The Dean Foods spin-off will be bought by French dairy maker Danone for about $10 billion, or $56.25 in cash. That represents a nearly 19 percent premium for WhiteWave shareholders. JPMorgan Chase — The bank might be forced to move thousands of workers out of Britain, according to CEO Jamie Dimon. He told an Italian newspaper that the shift might be necessary if Britain loses its automatic right to sell financial services to the European Union following the Brexit vote. Microsoft — Microsoft will unify its cloud-based business software offerings into a line called "Dynamics." The software involved helps run various back-office functions. Costco — Costco reported flat June same-store sales, a better performance than the 1.5 percent drop that analysts were anticipating for the warehouse retailer. Biomarin Pharmaceutical — Biomarin may be a takeover target of Swiss drug maker Roche, according to a Betaville report. Such a deal could be in the $130 to $150 per share range, although it is not clear if a formal offer has been made. Corning — Corning was added to the "conviction buy" list at Goldman Sachs, based on an upbeat outlook for the glass industry. Tesla — The National Highway Traffic Safety Administration is probing a July 1 crash involving a Tesla Model X. The driver said it was being operated in autopilot mode but Tesla said it had no data to suggest that autopilot was engaged at the time of the accident. Oneok Partners — The natural gas distributor was upgraded to "buy" from "neutral" at UBS, which said any earnings drag from the company's Bakken exposure will lessen over the long term. Cigna — The insurance company's stock was rated "outperform" in reinstated coverage at Oppenheimer, saying the shares are attractive at current prices even if the planned Cigna takeover by Anthem does not happen. L Brands — The Victoria's Secret parent reported a six percent increase in comparable-store sales, well above the 2.1 percent consensus estimate. Sales were better than expected at both Victoria's Secret and Bath & Body Works. http://www.cnbc.com/2016/07/07/early-movers-pep-avg-jpm-msft-cost-tsla-more.html
i'm guessing today will be a snooze fest for the most part until tomm's UE report question is will a blow out # send the markets to new highs (finally)?
whelp we're basically sitting right on pre-brexit levels here literally ... not too shabby ... i'll be super honest here but i did not expect this to happen so soon ... it sure is looking like brexit was a bunch of smoke and mirrors lol i was laughing the night of BREXIT when the /ES jumped +10 handles early and made a new yearly high up there at 2120 in the ETH ... i didn't think we'd see those levels again for a long time after the way the market sold off that night ... whelp lo and behold we're a stone's throw from those highs again ... after that its ATH territory!
im still mad about the whole brexit smokescreen, it shook me out of my long standing gold trade ive been making money on, after that initial pop, i never got a chance to get back in, as i dont like buying things extended off of moving averages. plus i was on vacation at the time, and i didnt want to hold something before such a binary event that i couldnt stalk every minute lol. i wonder if oil will break 50 and markets will return to ATH soon and at the same time?
In this mixed up market, I wouldn't be suprised if a blow out jobs report sends this market back down (rate hike probability increase), and another miss pushes us near ATH.
$3M in $KRE Sept 39x calls just got bought. https://www.techtrader.ai/wall/?date=1467872501&post=9589 $KRE 9/16/2016 39x Calls, 24580@$1.1499 MV: $2.8M | $Not.: $36.6M | OI: 10020 | 10.5% TotalOI 71.1% StockVolume | 99.1% OptionVolume
haha that is very true we've been in this "good news = bad news" and vice versa news cycle for so long ... its very possible this market sells off on a good # personally i feel it would be nice to see the markets return to a somewhat more normalcy (yes i know shame on me for even using that word for this market lol ... such wishful thinking on my part!) but seriously i'd prefer to see a market actually respond favorably off of good fundamental reports or negatively off bad thanks to the FED we've been in this ridiculous psychology of good news being treated as bad (or vice versa) because it means the FED starts hiking quicker than expected or not ... seriously what a riot man as @MaximusAnalysis always says we trade price/charts ... and our opinions should be kept out of trading ... no doubt about it the FED sure has done a bang up job though creating one of the if not the most epic fabricated bull rally in market history imo lol ... and there's no telling if its over just yet ... in fact we might just be in the 5th inning here? ... who knows ... but at some point it will all end ... nothing lasts forever ... even fed induced rallies lol
Seems lately moderate increases in oil prices cause large increase in stock prices, while large drops in oil prices only cause moderate drop in stock prices.
Depends on how big of percentage drop on oil. It can cause a market meltdown if the of the drop is big enough and stocks effected accordingly. When oil was down to $24 if brought the market to it's knee's.
Watching this 2082 level here and definitely not trying to get overly bearish. Have to see how the week closes. Going to be looking at the XLE and CL options for shorting crude from now on. Or of course just the futures
