Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

Stock Market Today: June 10th - 14th, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Jun 7, 2019.

  1. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,712
    Likes Received:
    2,359
    Treasury yields down
    1m -1.31%
    2y -3.28%
    10y -1.08%
    30y +0.03%

    But the good news is the yield curve is steepening because the 2y is down so much, and the 30y is holding flat.
     
  2. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    Crunch Time For Semis

    The next couple of days could prove to be very important for the semis. After falling just shy of 20% from its intraday high in mid-April to its intraday low at the end of May, the Philadelphia Semiconductor Index (SOX) rallied over 10% to yesterday's intraday high before pulling back into the close. The fact that the SOX pulled back where it did is notable because it came right as the index had retraced 50% of the decline from the April highs. As shown in the chart below, the mid-point between April's high and May's low was 1,445.78, and yesterday's high was less than five points lower at 1,440.8. Semis opened lower again this morning, so the longer the weakness persists, the more it will look like a failed rally. But if the group bounces from here or even marks time near current levels and then bounces, it would send a positive signal for the group and broader tech in general.

    [​IMG]

    Looking through the list, the majority of stocks are up over 4% in the last week, so they've definitely had a nice few days. Despite the gains, though, just two stocks listed are trading at overbought levels, and only four are above their 50-DMA. Given they aren't even close to overbought, the group clearly has more room to run. At the same time, though, if the rally fails to hold before the majority of members could even get back above their 50-DMAs, that wouldn't say much for the group's prospects.

    [​IMG]
     
    stock1234 likes this.
  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Still a pretty bad day for the banks stocks with rates heading lower despite the yield curve is steepening a little bit :eek:
     
    bigbear0083 likes this.
  4. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Inflation data was pretty tame this morning, so rate cut hope remains high for this market :p
     
    #44 stock1234, Jun 12, 2019
    Last edited: Jun 12, 2019
    bigbear0083 likes this.
  5. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Semiconductors are having a pretty bad day :eek:
     
  6. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    did you mean cut :p

    i still have a habit of doing that too haha ... it's amazing to me how we can go from hike to cut in just a couple of months time :eek:

    next wenesday will be one of the more interesting fomc meetings that we've had in a really long time as we'll get the announcement as well as the powell presser

    no cut is expected on the announcement but what they say about the upcoming meetings (especially the july one) will be very interesting

    we may just chop around here until that meeting next wed. is my guess :p
     
    stock1234 likes this.
  7. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Thanks for correcting me Cy. For the last couple of years we have been talking about the rate hikes and seems like I am not getting used to the word “cut” just yet :p

    Yeah the FED probably won’t cut next week. Will be interesting to see if the FED will upset the market if it doesn’t send a strong signal that the cut is coming :D
     
    bigbear0083 likes this.
  8. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
  9. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    Morning Lineup - That's No Bull
    Thu, Jun 13, 2019

    As one might expect given the big rally over the last several days, bullish sentiment on the part of individual investors ticked higher this week, but at just 26.8%, the latest sentiment survey from AAII shows that the vast majority of investors have been slow to get back in the pool as bearish sentiment remains elevated at 34.20% and the percentage of investors who just can't make up their mind increased to 39%.

    For today, all eyes are on Jobless Claims which came in at 222K versus estimates for a reading of 215K. Going forward, this afternoon's earnings report from Broadcom (AVGO) will help to decide the path that semis take to close out the week.

    On the subject of Industrial Production out of Europe, this morning's print of a decline was right inline with expectations, but that doesn't mean it was particularly good. As shown in the chart below, m/m readings have now only increased two times in the last eleven months!

    [​IMG]
     
  10. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    S&P 500 Sectors: Percentage of Stocks Above 50-Day Moving Averages

    54% of stocks in the S&P 500 are currently trading above their 50-day moving averages. This indicator has been in a downtrend since peaking in February when breadth exploded higher.

    [​IMG]

    Below we show similar breadth readings by S&P 500 sector. Utilities, Consumer Staples, Health Care, and Materials currently have the strongest readings (all above 60%), while Energy is currently the weakest sector with just 10% of its stocks above their 50-day moving average.

    The ever-important Technology sector currently has a reading of 50%, which means exactly half of the sector's stocks are above their 50-DMAs. It doesn't get more neutral than that!

    Given its massive weighting, whichever direction Tech breaks in the coming days will likely set the near-term trend for the overall market.

    [​IMG]

    [​IMG]
     
  11. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    spx sitting right about mid range that it has been in for the past year now ... mentioned it yesterday but my feeling is outside of a black swan event, we're probably gonna be chopping it up here until next wednesday's fed meeting

    [​IMG]
     
    stock1234 likes this.
  12. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Interest rates lower and stocks higher again, the FED better not disappoint the market next week on the potential rate cut :D
     
    bigbear0083 likes this.
  13. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    kind of an interesting stat i just ran across in my quick reads this afternoon that i was not actually aware of...

    did you know that the fed has actually cut interest rates on the same day that the SPX had made new ATHs in the past? it happened on 5 instances. (jan '06, july '95, aug '91, july '89 and '90).

    also, the past 2 times the fed first cut rates the market corrected notably (in 2001 and 2007), but going back a bit further it has actually bode very well for the market.

    in the other 5 instances since 1984 the market a year later was higher.

    [​IMG]
     
    stock1234 likes this.
  14. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    That’s kinda interesting, before reading this I would have thought rate cuts were pretty rare when the market was at ATH :eek:
     
    bigbear0083 likes this.
  15. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    6,839
    Likes Received:
    1,908
    Seems like the best strategy these days is just invest in every IPO. Lots hit big.
     
  16. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,712
    Likes Received:
    2,359
    Slow day today, only 1/2 the normal volume
    [​IMG]
     
  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Some recent IPOs like BYND and ZM have done extremely well :eek:
     
  18. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    4,472
    Likes Received:
    3,274
    Could be some slow days until the FED day next Wednesday :p
     
    bigbear0083 likes this.
  19. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    6,839
    Likes Received:
    1,908
    CHWY IPO tomorrow. Might throw a small gamble on it since they're all doing so well. Something I can afford to lose.
     
    stock1234 likes this.
  20. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    19,008
    Likes Received:
    6,620
    ^^ this

    i'm also thinking after the g20 meet later this month we could be heading into the traditional "summer doldrums" where things begin to slow down significantly ... hopefully not ... but if no surprises after next week's fed meeting and nothing meaningful comes about from the g20 later this month, we only really have earnings season to look forward to ... unless we get a geopolitical black swan surprise (*cough* iran? *cough*) who knows :p
     
    stock1234 likes this.

Share This Page