T3’s Daily Recap Report: Earnings Are Blah, but This Bull Won’t Blink!
1) Earnings Season Rages On We walked into some big earnings reports today, and unfortunately, they were mostly bear-friendly: –Netflix (NFLX) issued very weak guidance, driving a -13.1% drop in this high-profile momentum name. -IBM (IBM) and Goldman Sachs (GS) beat expectations, but still couldn’t rally. –Rio Tinto (RIO) sank on weak demand for iron […]
Continue Reading -->Morning Call Express: Stay or Go!
In today’s Morning Call Express, Scott Redler talks about some key levels of support in the SPX and what it would mean if these levels break. He also talks about the poor earnings from Netflix (NFLX) and will be watching to see if the weakness is contained to just NFLX or permeates into other names.
Continue Reading -->T3’s Daily Recap Report: Mr. Market Is Still Flirting With Record Highs
1) Bears Get Grinded Out… Again! US markets managed to score a small victory today in the face of shaky European markets and geopolitical troubles in Turkey and other areas. The S&P 500 hit an intraday high of 2168.35, putting it less than one point away from making its sixth record high in as many […]
Continue Reading -->6th SPX Record High in a Row?
The market really feels like it’s out of gas, but lo and behold, the SPX is within a few point of hitting a new all-time high for the 6th day in a row. So let’s take a deep dive into the action and see if the bears are ready to take the lead. The action is […]
Continue Reading -->Morning Call Express: Earnings Season Is Here!
In today’s Morning Call Express, Scott Redler discusses the weekend news, the technical setup into earnings season, and the action in bank stocks like JP Morgan (JPM) and Bank of America (BAC). Scott also talks about the setups in Netflix (NFLX), Facebook (FB), and biotech (IBB).
Continue Reading -->Morning Preview: Is the Sideways Grind Beginning?
The S&P 500 is coming off 5 all-time highs in 5 days, but we may be in for a sideways grind. On Friday, I wrote that the market was ‘feeling’ stretched but sentiment was mixed, which is typically a recipe for a whole lotta nothing in terms of action. I would not be surpised to see […]
Continue Reading -->T3’s Take 3: Bulls go 5 for 5 in All-Time Highs, but the Picture Gets Muddy
1) 5 Days, 5 All-Time Highs For the fifth day in a row, the S&P 500 managed to make a new all-time high, something that hasn’t happened since 1998. The index hit a peak of 2169.05 just after the open before selling off to 2155.79, and closing down 0.1% at 2161.74. Earnings were a culprit. […]
Continue Reading -->Morning Call Express: Getting Ready for Monthly Options Expiration
In Today’s Morning Call Express, Jeff Cooper of the Daily Market Report breaks down the technical picture, including why traders may want to stay on guard. Click here to read more about how Jeff is crushing the market with the Daily Market Report.
Continue Reading -->What’s Happening: Tragedy Strikes France
European stocks are taking a hit following the tragic terror attack in Nice, France. Travel stocks are notably weak. However, there isn’t much of a flight to safety. European 2 and 10-year yields are up again today, gold is flat, and the yen is down. UK constructuion fell -2.1% in May, missing by a mile, […]
Continue Reading -->Jeff Cooper: Is This the Pinocchio Market?
Follow Jeff Cooper on Twitter: @JeffCooperLive Today is monthly options expiration, and Fridays in a bull run usually close at their highs. However, based on many measures multi-year extremes in bullish sentiment equal to the extremes of tops over the last 3 years the SPX may carve out a relatively quiet day. Additionally, the futures ran […]
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