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Frank Fahey: Market News for the Prepared Mind: 8.21-8.28.2017

August 21, 2017


“Chance favors the Prepared Mind.” – Louis Pasteur

“There is only one side of the market and it is not the bull side or the bear side, but the right side.” – Jesse Livermore

“I love to talk about nothing. It’s the only thing I know anything about.” – Oscar Wilde

“Computers have enabled people to make more mistakes faster than almost any invention in history, with the possible exception of tequila and handguns.” – Mitch Ratcliffe

“There is a profound difference between information and meaning.” – Warren Bennis

 

I am posting a truncated version of the Prepared Mind. The weekly numbers and economic calendar are here, but without commentary.

Here is an overview of the US market behavior last week and for 2017 YTD:

Index 18-Aug Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 21674.51 (183.81) -0.84% 9.67% 13.28% (VXD)
S&P 500 (SPX) 2425.55 (15.77) -0.65% 8.37% 14.26% (VIX)
NASDAQ 100 (NDX) 5790.91 (40.62) -0.70% 19.07% 17.85% (VXN)
Russell 2000 (RUT) 1357.79 (16.44) -1.20% 0.05% 17.76% (RVX)
S&P 100 (OEX) 1073.52 (8.28) -0.77% 8.28% 12.91% (VXO)
Dow Jones Transportation (TRAN) 4381.90 (79.25) -1.78% 8.16% NA
Crude Oil (CLV7) 48.90 (0.01) -0.02% -9.26% 27.53%(OVX)
Gold (GCZ7) 1290.30 (5.40) -0.42% 12.01% 12.12 (GVZ)
CBOE Volatility Index (VIX) 14.26 (1.25) -8.06% NA

Data Source: OptionVue8

Here is an overview of last week for the VIX and related products:

Indexes Ticker 18-Aug 11-Aug Change % Change
CBOE Volatility Index VIX 14.26 15.51 (1.25) -8.06%
VIX September Future (9/20/2017) VXU7 14.975 15.275 (0.30) -1.96%
VIX October Future (10/18/2017) VXV7 15.125 15.525 (0.40) -2.58%
VIX November Future (11/15/2017) VXX7 15.375 15.525 (0.15) -0.97%
CBOE Short-term Volatility Index VXST 13.17 15.53 (2.36) -15.20%
CBOE 3 Month Volatility Index VXV 15.65 16.39 (0.74) -4.51%
CBOE Mid-term Volatility Index (6 month) VXMT 16.38 16.86 (0.48) -2.85%
VIX of VIX VVIX 114.39 127.43 (13.04) -10.23%
CBOE SKEW Index SKEW 128.86 136.48 (7.62) -5.58%
Long VIX ETP’s
ProShares Ultra VIX Short Term Futures ETF UVXY 38.97 43.09 (4.12) -9.56%
iPath S&P 500 VIX Short Term Futures ETN VXX 13.30 13.66 (0.36) -2.64%
ProShares VIX Short Term Futures ETF VIXY 44.19 45.50 (1.31) -2.88%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 22.51 23.20 (0.69) -2.97%
Inverse VIX ETP’s
ProShares Short VIX Short Term Future ETF SVXY 70.66 71.88 (1.22) -1.70%
Daily Inverse VIX Short Term ETN XIV 73.89 74.58 (0.69) -0.93%

Data Source: OptionVue8

Janet Yellen’s Friday speech at the Jackson Hole Economic Policy Symposium will be the week’s most important event. The sector focus for the week will be Housing. FHFA House Price Index will be announced on Tuesday followed by New Home Sales on Wednesday and Existing Home Sales on Thursday. Durable Goods Orders will be will be announced on Friday prior to Janet Yellen’s speech.

This earnings season winds down this the week. The highlights include: Nordson, Toll Brothers, Cree, Medtronic, Salesforc.com, Eaton Vance, PVH, HP, Guess?, Williams Sonoma, Lowe’s, Sanderson Farms, Dollar Tree, Staples, Hormel Foods, JM Smucker, GameStop, GameStop, Ulta Beauty, Toro, and Big Lots, Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website.

 

Advice to stimulate your imagination:

“A man without ethics is a wild beast loosed upon this world.” – Albert Camus

“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing.” -Jesse Livermore

“A point of view can be a dangerous luxury when submitted for insight and understanding.” – Marshall McLuhan

“What we learn from history is that people don’t learn from history.” – Warren Buffet

“Freedom is what you do with what’s been done to you.” – Jean-Paul Sartre

 

Monday, August 21: 

Economic: Chicago Fed National Activity Index – 8:30.

International Economic: Japan All Industry Index – 12:30AM.

 

Tuesday, August 22: 

Economic: Redbook – 8:55, FHFA House Price Index – 10:00, Richmond Fed Manufacturing Index – 10:00.

International: Great Britain CBI Industrial Trends Survey – 6:00AM.

 

Wednesday, August 23: 

Economic: MBA Mortgage Applications – 7:00, New Home Sales – 10:00, EIA Petroleum Status Report – 10:30.

International Economic: No major announcements.

 

Thursday, August 24: 

Economic: Weekly Jobless Claims – 8:30, PMI Composite Flash – 9:45, Bloomberg Consumer Comfort Index – 9:45, Existing Home Sales – 10:00, EIA Natural Gas Report – 10:30, Kansas City Fed Manufacturing Index – 11:00, Money Supply – 4:30.

International Economic: Germany PMI Composite Flash – 3:30AM, Eurozone PMI Composite Flash – 4:00AM, Great Britain GDP – 4:30AM.

Other: Jackson Hole Economic Symposium. The Federal Reserve Bank of Kansas City has hosted an annual economic policy symposium. The event is designed as a forum for central bankers, policy experts and academics to come together to focus on a topic that is not necessarily of immediate concern, but instead looks into the future at emerging issues and trends.

 

Friday, August 25: 

Economic: Durable Goods Orders – 8:30, Baker Hughes Rig Count – 1:00.
International Economic: Germany GDP – 2:00AM

Other: Jackson Hole Economic Symposium continues through Saturday. Federal Reserve Chair Janet Yellen to speak at Federal Reserve Bank of Kansas City Economic Symposium on Financial Stability in Jackson Hole.- 10:00AM.

 

Monday, August 28: 

Economic: International Trade in Goods – 8:30, Dallas Fed Manufacturing Survey 10:30.

International Economic: No major announcements.

 

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Frank Fahey: Market News for the Prepared Mind: 8.14-8.21.2017

August 14, 2017


“Chance favors the prepared mind.” -Louis Pasteur

“There is only one side of the market and it is not the bull side or the bear side, but the right side.” -Jesse Livermore

“I love to talk about nothing. It’s the only thing I know anything about.” -Oscar Wilde

“Computers have enabled people to make more mistakes faster than almost any invention in history, with the possible exception of tequila and handguns.” -Mitch Ratcliffe

“Better to have a simple model backed by excellent people than the other way around.” -Paul Carrett

 

NBSorry for the delay in posting. It always helps to hit “post.” Next week’s blog will contain on Index and VIX information. I will be in pursuit of the total eclipse.

The S&P 500 sold off 35.51 points to 2441. Last week’s 1.43% drop was the largest since November 2016. The bulk of the damage was done on Thursday when the SPX lost 1.45%. The sell-off was preceded by a market which was setting new records for lack of movement. Thursday’s skid was preceded by 58 consecutive trading sessions without a move, in either direction, exceeding 1%. This near absence of movement culminated in a record 16 straight sessions without a 0.3% move up or down. Both streaks ended with Thursday’s sell- off.

Financial talking head various blamed the ratcheting up of US-North Korea tensions and the long-legs of the current bull market. The nation’s debt ceiling limit, a statutory limit of outstanding debt obligations, needs to be raised, per the Trump administration, by September 29. Other sources are predicting a need for an increase earlier in September.

The congressional debt ceiling showdown created a crisis in 2011. It resulted in the most volatile week for financial markets since the 2008 recession. The S&P 500 was down as much as 10.6% the week of August 5. 2011. Congress will not be back inside the Beltway until September 5. Will Congress be able to reach a another bipartisan agreement in 2017? Ignore the debt ceiling negotiations at your own risk.

Here is an overview of the US market behavior last week and for 2017 YTD:

Index 11-Aug Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 21858.32 (234.49) -1.06% 10.60% 13.89% (VXD)
S&P 500 (SPX) 2441.32 (35.51) -1.43% 9.07% 15.51% (VIX)
NASDAQ 100 (NDX) 5831.53 (68.38) -1.16% 19.90% 17.77% (VXN)
Russell 2000 (RUT) 1374.23 (38.09) -2.70% 1.26% 19.59% (RVX)
S&P 100 (OEX) 1081.80 (13.62) -1.24% 9.12% 12.87% (VXO)
Dow Jones Transportation (TRAN) 4461.15 (50.81) -1.13% 10.11% NA
Crude Oil (CLU7) 48.77 (0.74) -1.49% -9.50% 28.41%(OVX)
Gold (GCZ7) 1295.70 30.90 2.44% 12.47% 13.45 (GVZ)
CBOE Volatility Index (VIX) 15.51 5.48 54.64% NA

Data Source: OptionVue8

The VIX shook off the dog days of August by closing the week at 16.04 – the highest close since November 8, 2016. The gain for the week was over 54%. The VXST – the CBOE Short-term Volatility Index – was up 81% for the week. The term structure of the front three monthly futures narrowed while gaining from 15% to nearly 37%. The number of short positions in VIX futures hit a record high the previous week. The explosion in volatility was partially fueled by traders covering short positions.

Here is an overview of last week for the VIX and related products:

Indexes Ticker 11-Aug 4-Aug Change % Change
S&P 500 SPX 2441.32 2476.83 (35.51) -1.43%
CBOE Volatility Index VIX 15.51 10.03 5.48 54.64%
VIX August Future (8/18/2017) VXQ7 15.425 11.275 4.15 36.81%
VIX September Future (9/20/2017) VXU7 15.275 12.775 2.50 19.57%
VIX October Future (10/18/2017) VXV7 15.525 13.525 2.00 14.79%
CBOE Short-term Volatility Index VXST 15.53 8.58 6.95 81.00%
CBOE 3 Month Volatility Index VXV 16.39 12.75 3.64 28.55%
CBOE Mid-term Volatility Index (6 month) VXMT 16.86 14.25 2.61 18.32%
VIX of VIX VVIX 127.43 87.39 40.04 45.82%
CBOE SKEW Index SKEW 136.48 138.32 (1.84) -1.33%
Long VIX ETP’s
ProShares Ultra VIX Short Term Futures ETF UVXY 43.09 29.79 13.30 44.65%
iPath S&P 500 VIX Short Term Futures ETN VXX 13.66 11.19 2.47 22.07%
ProShares VIX Short Term Futures ETF VIXY 45.50 37.31 8.19 21.95%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 23.20 21.19 2.01 9.49%
Inverse VIX ETP’s
ProShares Short VIX Short Term Future ETF SVXY 71.88 90.77 (18.89) -20.81%
Daily Inverse VIX Short Term ETN XIV 74.58 94.29 (19.71) -20.90%

Data Source: OptionVue8

The wild cards for the week are North Korea, the debt ceiling, and The POTUS’ twitter account. The week of August 14 brings reports on consumer spending, retail sales, housing starts, manufacturing and industrial production, as well as the minutes of the last Fed meeting.

This earnings season winds down over the next two weeks. The highlights include: Sysco, Urban Outfitters, Coach, Jack Henry, Staples, TJX, Advance Auto Parts, American Eagle Outfitters, Dick’s Sporting Goods, Home Depot, Target, L Brands, Cisco Systems, Ross Stores, Wal-Mart, Gap, Applied Materials, Estee Lauder, Footlocker, and Deere and Co. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website.

Advice to stimulate your imagination:

“A man without ethics is a wild beast loosed upon this world.” -Albert Camus

“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing.” -Jesse Livermore

“A point of view can be a dangerous luxury when substituted for insight and understanding.” -Marshall McLuhan

“What we learn from history is that people don’t learn from history.” -Warren Buffet

“Freedom is what you do with what’s been done to you.” -Jean-Paul Sartre

 

Monday, August 14: 

Economic: No major announcements.

International Economic: Eurozone Industrial Production – 5:00AM.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
JD BMO $45.90 11,189,500 6.19% $46.25 $43.85
SYY BMO $51.58 2,975,760 1.64% $52.12 $50.94

 

Tuesday, August 15: 

Economic: Retail Sales – 8:30, Empire State Manufacturing Survey – 8:30, Import and Export Prices – 8:30, Redbook – 8:55, Business Inventories – 10:00, Housing Market Index – 10:00.

International: Germany GDP Flash – 2:00AM, Great Britain CPI and PPI – 4:30AM.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
AAP BMO $107.34 1,854,100 4.90% $110.48 $107.27
COH BMO $47.55 2,646,440 3.02% $47.41 $47.31
HD BMO $154.88 4,747,060 1.00% $151.55 $150.11
TJX BMO $71.07 4,819,050 2.53% $70.39 $69.38
A AMC $59.33 1,908,560 2.98% $59.99 $60.03
JKHY AMC $105.74 570,145 1.56% $106.50 $106.03

 

Wednesday, August 16: 

Economic: MBA Mortgage Applications – 7:00, Housing Starts – 8:30, Atlanta Fed Business Inflation Expectations 10:00, EIA Petroleum Status Report – 10:30.

International Economic: Great Britain Labour Report – 4:30AM. Eurozone GDP Flash – 5:00AM, Japan Merchandise Trade – 7:50PM.
Other: FOMC Minutes – 3:00PM.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
CACI AMC $128.55 120,466 2.97% $128.29 $128.32
CSCO AMC $31.47 21,578,700 3.59% $31.56 $31.46
CTRP AMC $53.85 3,379,010 3.46% $58.07 $56.73
LB AMC $40.88 3,697,260 3.90% $43.70 $48.60
NTAP AMC $41.49 3,229,650 5.21% $42.85 $41.72
OSIS AMC $80.98 123,352 9.55% $79.70 $78.23
PRXL AMC $87.62 1,144,680 6.89% $87.55 $87.38
SNPS AMC $76.27 1,028,220 5.33% $76.50 $74.75
TGT AMC $55.65 7,721,120 6.42% $57.06 $54.62

 

Thursday, August 17: 

Economic: Weekly Jobless Claims – 8:30, Philadelphia Fed Business Outlook Survey – 8:30, Industrial Production – 9:15, Bloomberg Consumer Comfort Index – 9:45, E-Commerce Retail Sales – 10:00, Leading Indicators – 10:00, EIA Natural Gas Report – 10:30, Money Supply – 4:30.

International Economic: Great Britain Retail Sales – 4:30Am, Eurozone Merchandise Trade – 5:00AM.

Other: European Central Bank Minutes – 7:30AM.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
BABA BMO $151.70 17,896,800 2.83% $155.06 $150.35
HTHT BMO $99.36 254,998 4.41% $100.92 $91.84
LANC BMO $123.11 119,364 4.25% $123.07 $124.48
MSG BMO $215.66 128,323 1.25% $217.21 $205.82
WMT BMO $80.40 9,052,650 3.03% $80.71 $77.56
AMAT AMC $43.08 10,802,700 0.62% $43.56 $44.58
ATGE AMC $33.25 743,034 None $33.12 $35.25
CIB AMC $43.48 365,562 2.00% $43.70 $43.98
GLOB AMC $42.96 323,077 4.18% $44.08 $43.66
ROST AMC $55.56 3,673,540 3.02% $55.43 $54.95

 

Friday, August 18: 

Economic: Consumer Sentiment – 10:00, Baker Hughes Rig Count – 1:00.

International Economic: Germany PPI – 2:00AM.

Other: Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated Q&A session at the Dallas County Community College District Conference Day 2017 in Dallas, with audience Q&A.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
DE BMO $126.70 2,475,940 9.17% $129.68 $127.88
EL BMO $99.65 1,674,480 3.95% $99.94 $98.97
FL BMO $49.30 3,888,560 10.20% $48.31 $48.09

 

Monday, August 21: 

Economic: Chicago Fed National Activity Index – 8:30.

International Economic: No major announcements.

Earnings:

SYMBOL B/A 8/11 Close AVGVOL AVG MOVE SMA 10 50% FIB
BBL AMC $35.03 1,632,510 0.45% $35.92 $33.98
BHP AMC $40.35 2,557,050 0.68% $41.19 $39.15
FN AMC $41.00 567,423 4.91% $43.23 $43.94
NDSN AMC $127.68 359,855 6.35% $127.51 $124.03
PINC AMC $33.35 380,602 3.85% $34.37 $34.82
ZAYO AMC $33.82 2,066,120 2.34% $32.95 $32.13

 

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Frank Fahey: Market News for the Prepared Mind: 8.7-8.14.2017

August 7, 2017


“Chance favors the Prepared Mind.” — Louis Pasteur

“Today’s scientists have substituted mathematics for experiments, and they wander off through equation after equation, and eventually build a structure which as no relation.” — Nikola Tesla

“I love to talk about nothing. It’s the only thing I know anything about.” — Oscar Wilde

“Do you know who you are? Don’t ask. Act! Action will delineate and define you.” — Thomas Jefferson

“Better to have a simple model backed by excellent people than the other way around.” — Paul Carrett 

 

The talking heads are discounting new highs for the Dow Jones Industrials (DJIA.) It is a case of “Pay not attention to the man behind the curtain!” The naysayers’ arguments focus on two specific areas – the limited number of components in the average (30) and the components of the average are weighted according to nominal stock price rather than their overall relative economic size.

These factors lead to a situation where individual stocks can have a disproportionate effect on the performance of the index. This effect was apparent last week with Apple (AAPL) and 3M (MMM) propelling the DJIA to all-time new highs, and the previous week when Boeing (BA) had the same impact. The net result was the DJIA hit new highs on eight consecutive days.

The broader based S&P 500 (SPX) provides a less biased view of US equity markets. Market capitalization and number of components (500) prevent an individual stock from significantly moving the index. The SPX is not moving. It, too, has set a new record. The SPX has gone 12 trading days – nearly 2 ½ weeks – without a move up or down of 0.03%. This is the longest streak on record . “Nothing” is the new trend.

Here is an overview of the US market behavior last week and for 2017 YTD:

Index 4-Aug Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 22092.81 262.50 1.20% 11.79% 10.33% (VXD)
S&P 500 (SPX) 2476.83 4.73 0.19% 10.66% 10.03% (VIX)
NASDAQ 100 (NDX) 5899.91 (9.01) -0.15% 21.31% 15.91% (VXN)
Russell 2000 (RUT) 1412.32 (16.94) -1.19% 4.07% 14.63% (RVX)
S&P 100 (OEX) 1095.42 5.89 0.54% 10.49% 8.90% (VXO)
Dow Jones Transportation (TRAN) 4511.96 (7.84) -0.17% 11.37% NA
Crude Oil (CLU7) 49.51 (0.28) -0.56% -8.13% 28.53%(OVX)
Gold (GCZ7) 1264.80 (10.80) -0.85% 9.79% 10.87 (GVZ)
CBOE Volatility Index (VIX) 10.03 (0.26) -2.53% NA

Data Source: OptionVue8 

The dog days have affected the VIX and related products, in the same manner they have affected the major equity indexes. The VIX is hovering above all-time lows. The markets are not moving. Europe is on vacation.The A-team traders in NYC are in the Hamptons enjoying the fruits of last year’s bonuses. The trading desks across the world are staffed by the B-team. They live in fear of making mistake and raising the hackles of the alpha dogs. Their trading mantra is Primum non nocere – “first, do no harm.”
Know, that these desks do not have the depth of experience to rationally respond to the black swan – the unexpected volatility event. This lack of experience can magnify panicked responses to unknowns. Be wary.

Here is an overview of last week for the VIX and related products:

Indexes Ticker 4-Aug 28-Jul Change % Change
CBOE Volatility Index VIX 10.03 10.29 (0.26) -2.53%
VIX August Future (8/18/2017) VXQ7 11.275 11.375 (0.10) -0.88%
VIX September Future (9/20/2017) VXU7 12.775 12.625 0.15 1.19%
VIX October Future (10/18/2017) VXV7 13.525 13.825 (0.30) -2.17%
CBOE Short-term Volatility Index VXST 8.58 8.55 0.03 0.35%
CBOE 3 Month Volatility Index VXV 12.75 12.58 0.17 1.35%
CBOE Mid-term Volatility Index (6 month) VXMT 14.25 13.96 0.29 2.08%
VIX of VIX VVIX 87.39 87.20 0.19 0.22%
CBOE SKEW Index SKEW 138.32 139.91 (1.59) -1.14%
Long VIX ETP’s
ProShares Ultra VIX Short Term Futures ETF UVXY 29.79 30.19 (0.40) -1.32%
iPath S&P 500 VIX Short Term Futures ETN VXX 11.19 11.29 (0.10) -0.89%
ProShares VIX Short Term Futures ETF VIXY 37.31 37.54 (0.23) -0.61%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 21.19 21.00 0.19 0.90%
Inverse VIX ETP’s
ProShares Short VIX Short Term Future ETF SVXY 90.77 90.22 0.55 0.61%
Daily Inverse VIX Short Term ETN XIV 94.29 93.62 0.67 0.72%

Data Source: OptionVue8

The coming week includes consumer price readings and public speeches by four Fed officials. Thursday’s jobless claims and producer price data are other reports which could possibly engender some sort of move in the markets. Congress is on vacation. President Trump is on vacation. It should be very quiet. Maybe, too quiet?

It will be another blockbuster week for earnings. Earnings announcements will continue at a steady pace this week. The two stocks engendering the largest levels of interest are Nvidia (NVDA) and Priceline (PCLN) I am interested in both issues. I am far more likely to trade the NVDA announcement than the PCLN announcement.

I do not like the risk/reward ratio in Priceline.com. I will probably just watch and learn from PCLN price and implied volatility movement. PCLN closed at $2032.77 last week. Priceline’s average move for the past few earnings announcements has been nearly 7%. I will avoid a trade where the trade range expectations are plus or minus (+/-) $150. The at-the-money front month straddle is trading about $100.

It is not a “retail trade.” It is too difficult to control risk at these prices. There a number of other trading alternatives for the week. The alternatives include: CBS, Tyson Foods, Marriott Int’l, Tripadvisor, Walt Disney, Fossil, Ralph Lauren, Henry Schein, Monster Beverage, CVS Health Michael Kors, Mylan, Perrigo, Avnet, Nvidia, Nordstrom, Macy’s. Kohl’s, and J C Penney. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website.

Advice to stimulate your imagination:

“You need chaos in your soul to give birth to a dancing star.” Friedrich Nietzsche 

“Now came the dog days—day after day of hot, still summer, when for hours at a time light seemed the only thing that moved; the sky-sun, clouds and breeze-awake above the drowsing downs.” – Richard Adams 

“A point of view can be a dangerous luxury when substituted for insight and understanding.” – Marshall McLuhan 

“Freedom is what you do with what’s been done to you.” – Jean-Paul Sartre 

 

Monday, August 7: 

Economic: Gallup US Consumer Spending Measure – 8:30, Labor Market Conditions Index – 10:00, TD Ameritrade IMX – 12:30.
International Economic: Germany Industrial Production – 2:00AM.

Other: St. Louis Federal Reserve Bank President James Bullard to discuss the U.S. economy and monetary policy at the America’s Cotton Marketing Cooperatives 2017 Conference in Nashville, with audience and media Q&A – 11:45AM, Minneapolis Federal Reserve Bank President Neel Kashkari to take part in a moderated audience Q&A session at the Sioux Falls Rotary Club event in Sioux Falls, SD – 1:25PM.

Earnings:

SYMBOL B/A 8/4 Close AVGVOL AVG MOVE SMA 10 50% FIB
BAH BMO $34.61 1,273,830 5.16% $34.04 $33.40
TSN BMO $63.30 2,756,450 4.76% $62.63 $61.38
ALB AMC $119.60 1,137,890 3.15% $117.94 $111.86
CAR AMC $32.21 3,786,290 9.08% $32.03 $29.84
CBS AMC $63.62 2,867,650 2.41% $66.14 $65.35
EVHC AMC $55.79 1,402,240 1.83% $58.13 $58.91
IPHI AMC $34.69 1,266,800 9.41% $38.00 $36.81
LBTYA AMC $34.61 3,140,040 2.80% $33.54 $32.56
MAR AMC $105.02 2,451,590 2.04% $103.55 $102.31
RSPP AMC $31.11 2,427,740 3.21% $33.53 $32.72

 

Tuesday, August 8: 

Economic: Motor NFIB Small Business Optimism Index – 8:30, Redbook – 8:55, JOLTS – 10:00.
International: Germany Merchandise Trade – 2:00AM, France Merchandise Trade – 2:45AM, China PPI & CPI – 9:30PM.

Earnings:

SYMBOL B/A 8/4 Close AVGVOL AVG MOVE SMA 10 50% FIB
ARMK BMO $39.91 1,332,200 4.40% $40.17 $40.55
CVS BMO $77.97 6,031,140 4.24% $78.52 $79.31
EGN BMO $49.95 1,658,500 2.73% $51.90 $50.69
EXPD BMO $59.56 1,194,230 3.32% $59.12 $57.87
IONS BMO $52.36 1,419,600 4.71% $53.50 $55.01
KITE BMO $112.58 1,263,020 7.89% $110.05 $106.39
KORS BMO $36.80 2,484,970 6.24% $35.78 $34.88
LBTYK BMO $33.25 3,611,070 2.31% $32.43 $31.43
LNG BMO $44.68 1,798,230 1.72% $45.47 $47.07
MNK BMO $41.02 2,553,220 5.59% $45.73 $45.27
NCLH BMO $56.90 1,527,410 8.16% $55.66 $55.20
PDCE BMO $46.26 1,266,770 4.09% $46.22 $44.66
RL BMO $77.29 1,681,100 6.25% $74.94 $73.41
SEE BMO $43.49 2,194,330 4.89% $44.57 $44.56
VNTV BMO $64.04 2,031,240 1.76% $64.17 $62.55
W BMO $80.36 1,643,180 13.03% $76.74 $76.44
ZTS BMO $62.12 2,728,190 5.09% $62.28 $62.16
ACAD AMC $30.69 1,537,150 6.89% $29.91 $28.58
ANDV AMC $97.93 2,120,980 2.15% $98.12 $96.87
CLR AMC $33.65 3,508,550 1.63% $32.64 $31.90
DIS AMC $107.69 7,142,580 1.69% $108.32 $106.78
GDDY AMC $42.57 1,366,500 4.84% $43.26 $42.66
MNST AMC $52.71 2,168,070 3.42% $53.18 $51.63
TRIP AMC $39.51 2,735,580 9.72% $38.23 $37.91
TSO AMC $99.53 2,127,980 2.15% $98.12 $96.87
TSRO AMC $128.59 1,197,230 2.75% $128.18 $129.80
WBMD AMC $66.30 1,091,480 2.25% $65.11 $60.66
XEC AMC $94.00 1,218,690 2.32% $96.70 $95.14

 

Wednesday, August 9: 

Economic: MBA Mortgage Applications – 7:00, Productivity and Costs – 8:30, Wholesale Trade – 10:00, EIA Petroleum Status Report – 10:30.
International Economic: Japan Machine Orders – 7:50PM.

Earnings:

SYMBOL B/A 8/4 Close AVGVOL AVG MOVE SMA 10 50% FIB
ATHM BMO $47.82 1,212,820 2.94% $48.15 $46.85
AVT BMO $38.20 1,257,710 1.93% $38.86 $39.07
FWONK BMO $35.18 1,682,960 3.25% $34.73 $35.03
LITE BMO $58.85 1,811,120 6.83% $63.74 $62.41
MBLY BMO $63.49 2,972,730 1.55% $63.37 $63.15
MDCO BMO $36.43 1,153,500 1.64% $38.09 $39.95
MYL BMO $32.92 4,957,290 1.95% $38.24 $37.05
NVO BMO $42.06 1,952,120 9.19% $42.33 $42.54
SINA BMO $96.12 1,435,990 11.70% $94.32 $90.22
SNI BMO $87.29 2,671,580 4.86% $84.67 $77.53
TRCO BMO $40.80 2,339,900 1.31% $41.73 $41.16
WB BMO $78.77 2,591,310 14.24% $76.25 $72.31
XRAY BMO $61.59 1,283,590 2.92% $62.34 $63.06
ALNY AMC $82.44 1,092,830 10.52% $81.94 $81.38
ATH AMC $49.90 1,586,540 2.25% $50.47 $50.00
CTRP AMC $57.70 3,674,220 3.46% $58.69 $56.66
GXP AMC $31.22 2,913,200 0.94% $30.60 $30.05
LYV AMC $37.36 1,259,010 4.80% $36.98 $35.78
NTES AMC $304.47 1,276,920 5.94% $308.48 $305.51
PBYI AMC $85.80 1,700,200 1.55% $93.51 $90.99
PTLA AMC $61.50 1,013,300 10.89% $63.85 $60.48
SFR AMC $34.31 1,268,360 0.88% $34.89 $34.52

 

Thursday, August 10: 

Economic: Weekly Jobless Claims – 8:30, PPI-FD – 8:30, Bloomberg Consumer Comfort Index – 9:45, EIA Natural Gas Report – 10:30, Money Supply – 4:30.

International Economic: Japan Tertiary Index – 1:30AM, Great Britain Industrial Production – 4:30AM, Great Britain Merchandise Trade – 4:30AM.

Other: William Dudley New York Federal Reserve Bank President will deliver opening remarks and join a panel of New York Fed economists to answer questions after the presentation of the Economic Press Briefing on Wage Inequality in the Region, in New York – 10:00AM.

Earnings:

SYMBOL B/A 8/4 Close AVGVOL AVG MOVE SMA 10 50% FIB
DDS BMO $72.93 1,149,540 9.09% $72.40 $66.47
EAT BMO $34.71 1,227,660 5.59% $35.73 $36.58
KSS BMO $41.89 4,532,050 9.68% $40.74 $39.33
PRGO BMO $67.43 1,514,590 8.12% $0.00 $0.00
YY BMO $73.49 1,085,350 2.87% $71.32 $65.08
BZUN AMC $32.02 2,098,150 3.39% $32.73 $28.13
JWN AMC $46.81 3,026,170 6.88% $47.72 $48.15
NVDA AMC $167.21 22,750,900 11.70% $165.09 $154.25
TTD AMC $53.39 1,296,070 19.36% $53.78 $52.98

 

Friday, August 11: 

Economic: CPI – 8:30, International Trade – 8:30, Baker Hughes Rig Count – 1:00.

International Economic: Germany CPI – 2:00AM,

Other: Federal Reserve Bank of Dallas President Robert Kaplan to speak at the University of Texas at Arlington Accounting Department Sixth Annual CPE Day in Arlington, Texas, with audience and media Q&A – 9:40AM, Minneapolis Federal Reserve Bank President Neel Kashkari to take part in a moderated audience Q&A session at the Independent Community Bankers of Minnesota Annual Convention in Bloomington, MN – 11:30AM.

Earnings: None meeting criteria.

 

Monday, August 14: 

Economic: No Major Announcements.

International Economic: Japan GDP, 7:50PM, China Industrial Production & Retail Sales – 10:PM,

Earnings:

SYMBOL B/A 8/4 Close AVGVOL AVG MOVE SMA 10 50% FIB
JD BMO $46.40 10,758,100 6.19% $44.86 $42.68
SYY BMO $52.33 3,053,240 1.64% $51.97 $50.94

 

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Frank Fahey: Market News for the Prepared Mind: 7.31-8.7.2017

July 31, 2017


“Chance favors the Prepared Mind.” – Louis Pasteur
“Every society honors its live conformists and its dead troublemakers.” – Marshal McLuhan
“Nothing can make an injustice just but Mercy.” – Robert Frost
“Life is like Sanskrit read to a pony” – Lou Reed
“Sometimes it’s not enough to know what things mean,sometimes you have to know what things don’t mean.” – Bob Dylan 
It was a mixed bag for the equities last week. The Dow Jones Industrial Average rode Caterpillar (CAT) and Boeing (BA) to a new all-time High last week. Three of the four FANG stocks announced earnings last week. Facebook (FB) was up nearly 5% for the week, while Alphabet (GOOGL) and Amazon.com (AMZN) were down 3.6% and 0.6% respectively. The net result was a minor loss for the technology laden NDX.
All week, the chatter has been about a correction or end of this bull market. This focus on the negative is occurring despite second quarter growth in the US GDP of 2.5% and across the board earnings of over 10%. Weakness in the US dollar will make US exports more attractive.
Here is an overview of the US market behavior last week and for 2017 YTD:
Index 28-Jul Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 21830.31 250.24 1.16% 10.46% 10.46% (VXD)
S&P 500 (SPX) 2472.10 (0.44) -0.02% 10.45% 10.29% (VIX)
NASDAQ 100 (NDX) 5908.92 (12.60) -0.21% 21.49% 15.91% (VXN)
Russell 2000 (RUT) 1429.26 (6.58) -0.46% 5.31% 15.30% (RVX)
S&P 100 (OEX) 1089.53 1.79 0.16% 9.89% 8.26% (VXO)
Dow Jones Transportation (TRAN) 4519.80 (117.54) -2.53% 11.56% NA
Crude Oil (CLU7) 49.79 4.19 9.19% -7.61% 29.86%(OVX)
Gold (GCZ7) 1275.60 20.60 1.64% 10.73% 11.44 (GVZ)
CBOE Volatility Index (VIX) 10.92 1.56 16.67% NA

Data Source: OptionVue8 

In his song “Rock ‘n’ Roll”, Lou Reed summed up the reasons for VIX weaknesses better than any market mavens – “ There was nothin’ goin’ down at all, not at all.” VIX futures and options were little changed this week. However, shorter term volatility indexes and VIX related products showed some strength last week while moving off levels near all-time lows. Financial talking heads continued to focus on the weakness VIX as being a potential precursor to a market correction.

Here is an overview of last week for the VIX and related products:

Indexes Ticker 28-Jul 21-Jul Change % Change
CBOE Volatility Index VIX 10.29 9.36 0.93 9.94%
VIX August Future (8/18/2017) VXQ7 11.375 11.375 0.00 0.00%
VIX September Future (9/20/2017) VXU7 12.625 12.675 (0.05) -0.39%
VIX October Future (10/18/2017) VXV7 13.825 13.475 0.35 2.60%
CBOE Short-term Volatility Index VXST 8.55 7.10 1.45 20.42%
CBOE 3 Month Volatility Index VXV 12.58 12.06 0.52 4.31%
CBOE Mid-term Volatility Index (6 month) VXMT 13.96 13.89 0.07 0.50%
VIX of VIX VVIX 87.20 77.86 9.34 12.00%
CBOE SKEW Index SKEW 139.91 134.53 5.38 4.00%
Long VIX ETP’s
ProShares Ultra VIX Short Term Futures ETF UVXY 30.19 29.79 0.40 1.34%
iPath S&P 500 VIX Short Term Futures ETN VXX 11.29 11.20 0.09 0.80%
ProShares VIX Short Term Futures ETF VIXY 37.54 37.31 0.23 0.62%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 21.00 21.55 (0.55) -2.55%
Inverse VIX ETP’s
ProShares Short VIX Short Term Future ETF SVXY 90.22 90.96 (0.74) -0.81%
Daily Inverse VIX Short Term ETN XIV 93.62 94.25 (0.63) -0.67%

Data Source: OptionVue8

The first week of August is light on economic data. It includes June Factory Orders on Thursday and the June US Employment Situation Report on Friday. Vehicle sales on Tuesday will the first piece of information on July’s consumer data, while factory orders on Thursday will close out June data on manufacturing. The lack of economic data does not preclude volatility being injected into the markets.

Naysayers are looking at a number of potential sources of volatility in the market. North Korea’s bellicose behavior has yet to inject any fear into the markets. Week employment numbers on Friday could expose chinks in the bull market. The fourth component of Fang, Apple (AAPL) is announcing earnings after market close on Tuesday. Weaker than expected earnings could inject volatility into the markets. The chaos inside the beltway is a significant contributor to unease among financial talking heads. Earnings continue with the most active week of this earnings season. Earnings highlights for the coming week include: CME, Allstate, Cummins, Phillips 66, ADM, Pfizer, Mosaic, Ecolab, APPLE, Emerson Electric, Simon Property, MetLife, Mondelez, Exelon, Time Warner, Occidental Petroleum, Prudential, Marathon Oil, Yum! Brand, Kellogg, Viacom, Apache, and Berkshire Hathaway. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website.

Advice to stimulate your imagination:

“You need chaos in your soul to give birth to a dancing star.” — Friedrich Nietzsche 

“There’s no success like failure” – Bob Dylan 

“Avoid running at all times.” – Satchel Paige“ 

“August brings in sharp focus and a furious boil everything I’ve been listening to in the late spring and summer” – Henry Rollins 

 

Monday, July 31: 

Economic: Chicago PMI – 9:45, Pending Home Sales Index – 10:00, Dallas Fed Manufacturing Survey – 10:30, Farm Prices – 3:00.

International Economic: Germany Retail Sales – 2:00AM, Germany Unemployment Rate – 5:00AM, Eurozone HICP Flash – 6:00AM, Japan PMI Manufacturing Index – 8:30PM, China PMI Manufacturing Index – 9:00PM.

Other: Bank of Japan Minutes – 7:50PM.

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
ADM BMO $41.78 2,984,660 4.80% $41.51 $41.17
APD BMO $143.49 1,199,640 1.30% $145.17 $143.66
BP BMO $35.16 5,438,030 2.55% $34.87 $34.72
SNY BMO $47.56 1,868,820 1.88% $47.86 $48.41
ALSN AMC $37.64 1,389,490 4.41% $37.47 $37.84
SBAC AMC $137.64 1,040,360 2.33% $136.40 $134.87
VNO AMC $78.96 1,253,230 1.79% $82.22 $87.25

 

Tuesday, August 1: 

Economic: Motor Vehicle Sales, Personal Income and Outlays – 8:30, Redbook – 8:55, PMI Manufacturing Index – 9:45AM, ISM Manufacturing Index – 10:00, Construction Spending – 10:00.

International: Germany PMI Manufacturing Index – 3:55AM, Eurozone PMI Manufacturing Index – 4:00AM, Eurozone GDP Flash – 5:00AM.

Other: Cleveland Federal Reserve Bank President Loretta Mester to be the keynote speaker at the Community Bankers Association of Ohio Annual Convention in Cincinnati – 11:00AM, San Francisco Federal Reserve Bank President John Williams to discuss “Monetary Policy’s Role in Fostering Sustainable Growth” in Las Vegas, with audience and media Q&A – 2:30PM.

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
AN BMO $42.65 1,276,840 2.69% $42.53 $41.10
BG BMO $79.85 1,552,490 9.49% $79.28 $76.94
CME BMO $121.28 1,362,620 1.94% $120.90 $123.63
CMI BMO $167.22 1,364,150 3.52% $165.70 $164.23
D BMO $76.99 2,347,650 2.46% $76.92 $77.80
EMR BMO $59.53 3,489,590 3.00% $60.15 $59.34
ETN BMO $78.43 2,088,700 1.99% $79.54 $78.64
HCN BMO $73.07 1,606,630 0.47% $73.56 $75.12
HCP BMO $31.83 3,094,240 3.35% $31.82 $32.19
INCY BMO $135.74 1,721,720 2.13% $133.59 $131.94
NNN BMO $40.07 1,390,750 0.79% $40.08 $39.23
OLN BMO $30.25 2,283,430 3.98% $31.07 $29.73
PFE BMO $33.15 20,297,500 1.57% $33.30 $33.58
PSX BMO $83.65 2,128,540 0.92% $82.94 $81.78
RCL BMO $113.39 1,256,430 7.71% $113.34 $112.33
SHOP BMO $92.98 2,224,900 8.02% $91.84 $90.07
SPG BMO $160.52 1,952,440 2.71% $161.62 $160.04
TRI BMO $46.06 1,446,690 2.87% $45.93 $46.22
XRX BMO $30.43 2,314,850 2.00% $29.90 $29.46
XYL BMO $56.93 1,251,380 1.93% $56.95 $55.75
AAPL AMC $149.50 27,617,200 3.78% $150.92 $148.13
ALL AMC $90.50 1,748,910 1.94% $89.31 $89.19
ASH AMC $65.46 1,110,830 4.10% $66.38 $66.49
DVA AMC $65.47 1,464,350 3.38% $65.34 $64.38
DVN AMC $33.21 5,466,980 3.89% $32.20 $31.31
DXCM AMC $67.05 1,235,850 8.74% $69.68 $72.78
EXR AMC $77.92 1,101,570 4.00% $78.25 $77.38
FANG AMC $96.65 1,455,760 1.93% $93.16 $90.30
FMC AMC $76.65 1,107,800 5.78% $76.57 $74.86
GPT AMC $30.18 1,009,490 1.30% $30.01 $30.19
HLF AMC $67.24 1,075,880 5.75% $70.56 $70.58
OHI AMC $31.06 2,413,720 3.58% $33.31 $33.30
OKE AMC $56.46 4,427,010 2.50% $54.68 $51.88
OKS AMC $51.07 1,056,610 0.85% $48.79 $49.15
PXD AMC $161.41 1,629,270 4.20% $162.19 $159.69
RMD AMC $77.39 1,172,260 6.67% $77.58 $77.56

 

Wednesday, August 2: 

Economic: MBA Mortgage Applications – 7:00, ADP Employment Report – 8:15, Gallup US Job Creation Index – 8:30, EIA Petroleum Status Report – 10:30.

International Economic: Eurozone PPI – 5:00AM, Japan PMI Composite – 8:30PM, China General Services PMI – 9:00PM.

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
AME BMO $61.85 1,273,270 1.58% $61.49 $60.94
CAH BMO $77.61 1,971,670 1.92% $77.28 $78.06
DLPH BMO $89.95 1,985,670 4.67% $91.45 $89.18
EOG BMO $95.42 3,336,940 2.07% $93.53 $91.36
ETR BMO $76.25 1,012,700 1.05% $75.98 $77.41
EXC BMO $38.40 4,950,270 1.15% $37.26 $36.70
FIS BMO $90.83 1,535,160 2.92% $90.03 $87.53
GRMN BMO $51.32 1,059,170 5.13% $51.41 $51.27
HUM BMO $233.08 1,426,040 1.63% $235.62 $237.41
MAC BMO $57.85 1,291,440 1.52% $59.16 $58.81
MBLY BMO $63.33 2,860,710 2.79% $63.32 $62.97
MDCO BMO $38.41 1,161,510 2.93% $38.51 $40.45
MDLZ BMO $43.93 7,098,920 2.67% $43.95 $44.04
OXY BMO $62.73 4,787,670 3.19% $60.57 $60.00
Q BMO $90.65 1,022,260 1.89% $90.75 $90.09
QSR BMO $60.28 1,093,450 4.01% $61.27 $61.48
RAI BMO $65.40 7,666,680 1.78% $65.23 $65.45
RIO BMO $46.61 3,263,610 1.37% $45.19 $42.32
SBGI BMO $36.75 2,215,180 3.44% $34.61 $34.45
SO BMO $47.51 4,509,590 1.23% $47.31 $49.24
SPR BMO $60.89 1,015,710 7.47% $60.65 $58.44
TAP BMO $89.11 2,002,780 1.45% $88.22 $87.92
TEX BMO $38.69 1,646,410 2.23% $38.64 $37.05
TWX BMO $102.73 3,673,550 1.11% $100.09 $101.08
VMC BMO $124.00 1,077,040 4.32% $125.29 $128.72
VNTV BMO $64.02 1,975,540 1.75% $64.14 $62.55
VOYA BMO $39.00 1,500,080 3.97% $37.75 $36.95
AIG AMC $65.27 5,845,420 5.52% $64.48 $64.15
BIVV AMC $62.53 1,398,650 1.33% $62.18 $61.29
BLUE AMC $96.70 1,021,550 7.14% $96.77 $108.42
BMRN AMC $88.34 1,247,310 1.60% $88.41 $93.02
CA AMC $30.94 3,363,120 2.67% $34.22 $33.71
CAKE AMC $47.67 1,147,020 4.81% $49.87 $49.69
CC AMC $48.09 3,034,610 6.95% $45.83 $41.72
CLVS AMC $98.02 1,925,760 4.85% $87.39 $90.10
CRUS AMC $62.16 1,004,970 10.05% $63.85 $63.59
CTXS AMC $79.71 1,404,890 2.80% $81.55 $80.05
DATA AMC $64.85 1,124,810 9.64% $64.26 $63.76
HOLX AMC $44.12 2,548,410 4.11% $45.02 $45.47
HTA AMC $30.32 2,777,410 1.50% $30.31 $31.07
K AMC $67.65 2,278,640 1.96% $66.91 $68.39
LVLT AMC $58.61 2,270,280 3.80% $58.13 $59.23
MET AMC $55.25 4,966,030 4.34% $54.98 $54.32
MOH AMC $70.00 1,368,410 9.66% $70.40 $70.12
NXPI AMC $110.22 3,234,700 1.54% $109.70 $109.66
PRU AMC $113.20 1,808,100 2.84% $111.80 $108.30
PRXL AMC $87.38 1,321,630 7.32% $87.41 $87.33
QRVO AMC $69.00 1,850,050 5.90% $68.40 $67.43
SYMC AMC $31.03 7,963,450 4.66% $30.93 $29.47
TDOC AMC $33.75 1,003,500 13.37% $34.55 $33.84
TS AMC $31.64 1,982,480 2.83% $32.20 $31.31
TSLA AMC $335.07 8,041,690 3.59% $331.96 $345.06
TTWO AMC $80.10 2,398,650 4.12% $78.71 $76.59
WMB AMC $31.99 5,871,700 3.80% $31.50 $29.89
WPZ AMC $41.08 1,149,420 3.73% $41.11 $39.04
XPO AMC $60.09 1,988,690 7.41% $61.04 $61.98

 

Thursday, August 3: 

Economic: Chain Store Sales, Challenger Job-Cut Report – 7:30,Weekly Jobless Claims – 8:30, Gallup Good Jobs Rate – 8:30AM, Bloomberg Consumer Comfort Index – 9:45, PMI Services Index – 9:45AM, Factory Orders _ 10:00, ISM Non-manufacturing Index – 10:00, EIA Natural Gas Report – 10:30, Kansas City Fed Manufacturing Index – 11:00, Money Supply – 4:30.

International Economic: Germany PMI Composite – 3:55AM, Eurozone PMI Composite – 3:55AM, Eurozone Retail Sales – 5:00AM

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
ABC BMO $93.97 1,337,930 5.60% $92.66 $94.08
AEE BMO $56.16 1,454,070 1.00% $55.73 $55.35
AER BMO $49.04 1,358,860 1.52% $48.84 $47.47
AET BMO $155.29 2,181,840 1.10% $155.18 $153.97
AGN BMO $253.01 2,188,600 3.10% $250.40 $247.60
AKRX BMO $33.63 2,320,480 7.13% $33.64 $33.56
ALNY BMO $82.63 1,097,750 8.50% $80.14 $81.47
AON BMO $138.67 1,175,240 1.79% $138.10 $136.75
APA BMO $50.01 3,618,860 3.74% $48.85 $47.56
AXTA BMO $31.98 1,417,030 0.79% $32.73 $32.33
BDX BMO $201.98 1,773,540 1.83% $202.66 $199.32
BERY BMO $56.03 1,017,130 3.55% $57.29 $57.48
BLL BMO $41.89 2,214,250 5.86% $42.47 $42.29
CHD BMO $53.30 1,442,750 4.64% $53.24 $52.77
CI BMO $173.97 1,451,790 2.07% $173.71 $170.93
CNQ BMO $30.95 2,483,990 5.31% $30.11 $29.41
COMM BMO $36.94 2,875,060 8.08% $35.38 $36.62
CTSH BMO $69.32 3,842,330 3.92% $69.56 $68.03
CXO BMO $130.56 1,342,790 3.25% $128.07 $123.61
DISH BMO $63.94 2,146,400 2.13% $64.92 $64.27
DUK BMO $84.91 2,477,360 1.18% $84.44 $84.93
ENB BMO $41.10 3,282,280 1.86% $41.39 $39.96
GPN BMO $94.52 1,062,950 4.26% $93.49 $91.77
HPP BMO $32.40 1,179,010 0.69% $32.30 $33.34
ICE BMO $66.37 2,593,790 2.73% $66.08 $65.69
LDOS BMO $53.60 1,172,350 3.39% $53.35 $52.60
LNC BMO $72.81 1,445,640 3.07% $71.30 $68.84
PGR BMO $47.22 3,036,020 1.94% $46.14 $45.56
PH BMO $164.75 1,074,720 2.34% $165.27 $161.53
PPL BMO $38.18 3,367,960 0.89% $38.02 $38.33
PRGO BMO $74.47 1,526,160 7.98% $0.00 $0.00
PWR BMO $33.58 1,709,280 2.97% $33.57 $33.04
RLGY BMO $33.01 1,117,940 6.16% $33.56 $32.31
SHPG BMO $168.29 1,260,150 3.39% $164.73 $167.43
SRE BMO $113.04 1,217,920 1.79% $113.08 $112.00
TEVA BMO $32.34 7,810,590 4.87% $32.34 $32.31
TRGP BMO $46.77 2,220,180 4.46% $46.32 $43.84
VWR BMO $33.00 1,363,740 2.22% $32.99 $33.05
WRK BMO $57.32 1,267,140 2.37% $58.99 $58.04
WYN BMO $103.62 1,047,400 7.23% $103.11 $102.75
YUM BMO $75.00 2,188,180 2.08% $74.40 $74.00
AAOI AMC $96.64 3,566,810 15.36% $91.89 $80.70
ACIA AMC $43.55 1,095,850 21.4% $42.45 $42.16
ATVI AMC $61.45 6,747,220 6.18% $61.21 $59.52
BZUN AMC $33.69 2,057,080 6.00% $31.39 $27.85
ED AMC $82.38 1,433,790 0.92% $81.82 $82.58
FLR AMC $44.58 1,367,280 5.48% $45.23 $45.22
FLT AMC $152.05 1,392,110 7.11% $149.71 $146.96
GRUB AMC $46.64 2,000,890 15.71% $45.84 $45.29
KHC AMC $87.64 2,742,920 1.85% $86.41 $86.29
LNT AMC $40.47 1,263,870 0.89% $40.62 $40.65
MCHP AMC $80.70 2,449,980 4.63% $81.48 $79.59
MNST AMC $53.41 2,179,650 5.51% $52.59 $51.55
MSI AMC $91.01 1,002,970 3.44% $90.17 $88.95
NBIX AMC $49.46 1,089,840 2.47% $48.02 $47.75
RDUS AMC $42.13 1,261,550 4.49% $42.98 $44.20
REG AMC $66.16 1,203,800 1.68% $64.64 $63.34
SPNC AMC $38.45 1,410,670 4.59% $38.45 $34.03
VIAB AMC $35.66 5,506,300 3.52% $35.49 $34.73
WTW AMC $37.16 1,262,280 12.71% $37.30 $34.96
YELP AMC $33.02 3,568,720 13.69% $32.29 $31.06

 

Friday, August 4: 

Economic: July Employment Situation – 8:30, International Trade – 8:30, Baker Hughes Rig Count – 1:00.

International Economic: Germany Manufacturers’ Orders – 2:00AM.

Other: Bank of England Announcement and Minutes – 7:00AM.

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
BAH BMO $34.26 1,285,830 4.56% $33.66 $33.20
CBOE BMO $93.49 1,122,270 1.87% $93.17 $91.52
HSBC BMO $48.90 1,703,710 4.21% $48.44 $46.39
NWL BMO $52.07 3,624,170 6.35% $53.18 $53.09
TSN BMO $63.00 2,769,960 6.14% $61.86 $61.08

 

Monday, August 7: 

Economic: Gallup US Consumer Pending Measure – 8:30, Labor Market Conditions Index – 10:00, TD Ameritrade IMX – 12:30.

International Economic: Germany Industrial Production – 2:00AM.

Other: St. Louis Federal Reserve Bank President James Bullard to discuss the U.S. economy and monetary policy at the America’s Cotton Marketing Cooperatives 2017 Conference in Nashville, with audience and media Q&A – 11:45AM, Minneapolis Federal Reserve Bank President Neel Kashkari to take part in a moderated audience Q&A session at the Sioux Falls Rotary Club event in Sioux Falls, SD – 1:25PM.

Earnings:

SYMBOL B/A 7/28 Close AVGVOL AVG MOVE SMA 10 50% FIB
KITE BMO $111.43 1,270,970 10.48% $107.68 $103.11
ALB AMC $116.50 1,137,630 4.26% $117.85 $111.67

 

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Frank Fahey: Market News for the Prepared Mind: 7.24-7.31.2017

July 24, 2017


“Chance favors the Prepared Mind.” – Louis Pasteur

“I don’t necessarily agree with everything that I say.” – Marshall McLuhan

Chaos is God’s body. Order is the Devil’s chains.” – John Updike

“The Ford administration took over in a very turbulent, controversial period, we healed the wounds and we restored public trust in the White House and the presidency.” – Gerald Ford 

“Chaos was the law of nature; Order was the dream of man.” – Henry Adams 

Listen to me every Monday morning on “Stocks and Jocks.” The show combines the market insight of Louis Rukeyser, a dash of sports, and the humor of Seinfeld with truly honest stock market and economic advice.  It is interactive, listener-driven and hosted by financial industry gurus Tom “The Chief” Haugh and Jon “Dr. J” Najarian.  Stream it live Monday through Friday from 6:00AM to 8:00AM Central at Stocks and Jocks

All the major equity indexes, except for the Dow Jones Industrials, showed gains last week. Earnings have allowed the major market to ignore the chaos inside the Beltway and the upcoming FOMC meeting. Nearly 20% of the S&P 500 companies have reported earnings for the second quarter. Analysts’ earnings expectations have been exceed by 74% of the companies. Earnings growth this quarter is expected to approach 10%. Tech stocks continue to lead the way.

There are earnings announcements from FANG members Alphabet (GOOGLE), Facebook, and Amazon.com. These stocks will continue to be bellwethers for the market. Any disappointments in earnings, sales or guidance will have an immediate downward effect on the market.

Here is an overview of the US market behavior last week and for 2017 YTD:

Index 21-Jul Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 21580.07 (57.67) -0.27% 9.20% 9.55% (VXD)
S&P 500 (SPX) 2472.54 15.04 0.61% 10.47% 9.36% (VIX)
NASDAQ 100 (NDX) 5921.52 83.44 1.43% 21.75% 14.36% (VXN)
Russell 2000 (RUT) 1435.84 7.02 0.49% 5.80% 13.85% (RVX)
S&P 100 (OEX) 1087.74 4.61 0.43% 9.71% 7.77% (VXO)
Crude Oil (CLU7) 45.60 (1.08) -2.31% -15.38% 39.25%(OVX)
Dow Jones Transportation (TRAN) 4637.34 (147.00) -3.07% 14.46% NA
CBOE Volatility Index (VIX) 9.36 (0.15) -1.58% NA

Data Source: OptionVue8 

The VIX and related long VIX products are hovering just above all-time lows. The July standard/monthly VIX futures settled at 9.85 – a new monthly settlement low. Volatility levels are so low that three of the VIX ETPs underwent splits to reflect the downward trend. The prices for the UVXY, VIXY and SVXY are different from the prices disseminated last week. Each of these ProShares ETFs underwent splits last week.

The SVXY underwent a forward split at a 2:1 split ratio. The forward splits will decrease the price per share of each fund with a proportionate increase in the number of shares outstanding. For the 2-for-1 splits, every pre-split share will result in the receipt of two post-split shares, which will be priced at one-half the net asset value (“NAV”) of a pre-split share.

The UVXY and VIXY underwent reverse splits. Both were split at a 1:4 ratio. The reverse splits increase the price per share of each fund with a proportionate decrease in the number of shares outstanding. For the 1-for-4 reverse split, every four pre-split shares will result in the receipt of one post-split share, which will be priced four times higher than the NAV of a pre-split share. The following chart reflects the split pricing for all three products.

Russell Rhoads’ VIX trade of the week is a big one. On mid-day on Friday with VIX at 9.76 and the standard October contract at 13.70, a trader came into the VIX pit with a three-leg bullish trade. They sold 262,441 VIX Oct 12 Puts for 0.75, purchased 262,441 VIX Oct 15 Calls for 1.45 and then finished things up with a sale of 524,882 VIX Oct 25 Calls at 0.45. The ratio of ratio of the trade is short 1 Oct 12 Put, 1 Oct 15 call and short 2 Oct 25 calls, The trade was done for a net credit of 0.20. A volatility event between now and October.

Here is an overview of last week for the VIX and related products:

Indexes Ticker 21-Jul 14-Jul Change % Change
CBOE Volatility Index VIX 9.36 9.51 (0.15) -1.58%
VIX August Future (8/18/2017) VXQ7 11.375 12.025 (0.65) -5.41%
VIX September Future (9/20/2017) VXU7 12.675 12.975 (0.30) -2.31%
VIX October Future (10/18/2017) VXV7 13.475 13.700 (0.23) -1.64%
CBOE Short-term Volatility Index VXST 7.10 9.26 (2.16) -23.33%
CBOE 3 Month Volatility Index VXV 12.06 12.23 (0.17) -1.39%
CBOE Mid-term Volatility Index (6 month) VXMT 13.89 14.01 (0.12) -0.86%
VIX of VIX VVIX 77.86 82.20 (4.34) -5.28%
CBOE SKEW Index SKEW 134.53 137.71 (3.18) -2.31%
Long VIX ETP’s
ProShares Ultra VIX Short Term Futures ETF UVXY 29.79 34.24 (4.45) -13.00%
iPath S&P 500 VIX Short Term Futures ETN VXX 11.20 12.07 (0.87) -7.21%
ProShares VIX Short Term Futures ETF VIXY 37.31 40.00 (2.69) -6.72%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 21.55 21.84 (0.29) -1.33%
Inverse VIX ETP’s
ProShares Short VIX Short Term Future ETF SVXY 90.96 85.00 5.96 7.01%
Daily Inverse VIX Short Term ETN XIV 94.25 88.19 6.06 6.87%

Data Source: OptionVue8 

This will be a very big week for announcements – earnings and economic. The last week of July sees the release of major economic reports; new and existing home sales, as well as durable goods and the S&P CoreLogic Case-Shiller Home Price Index. The events with the ability to be major market movers are Fed’s July meeting and the first estimate on second-quarter GDP.

The FANG stocks (Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google/Alphabet (GOOG) (GOOGL) have been the fuel powering this leg of the current bull market. Three of the four FANG stocks are announcing earnings this week.

It is earnings season! Earnings announcements will be coming fast and furious this week. The week starts with an after-the-close announcement by Alphabet (GOOGL.) Earnings highlights for the coming week include: Alphabet, AT&T, McDonalds, Mondelez Int’l, Eli Lilly, 3M, Biogen, Caterpillar, Amgen, Kimberly-Clark, DuPont, United Technologies, Facebook. Ford, Gilead Sciences, Coca Cola, Boeing, Procter&Gamble, MasterCard, Comcast, Amazon.com, Verizon, Intel. Starbucks, Dow Chemical, UPS, Bristol Myers Squibb, Merck, Chevron, and Exxon-Mobil. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website.

 

Advice to stimulate your imagination:

“You need chaos in your soul to give birth to a dancing star.” Friedrich Nietzsche 

“Always go too far, because that’s where you’ll find the truth” – Albert Camus 

“A point of view can be a dangerous luxury when substituted for insight and understanding.” – Marshall McLuhan 

“Freedom is what you do with what’s been done to you.” – Jean-Paul Sartre 

 

Monday, July 24: 

Economic: PMI Composite Flash – 8:30, Existing Home Sales – 10:00.

International Economic: Germany PMI Composite Flash – 3:30AM, Eurozone PMI Composite Flash – 4:00AM.

Other: Bank of Japan Minutes – 7:50PM.

Earnings:

SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
ITW BMO $147.29 1,238,920 2.42% $146.24 $145.69
PHG BMO $36.08 1,496,890 3.60% $36.23 $36.66
SWK BMO $146.79 1,044,540 2.52% $146.22 $143.50
VFC BMO $58.65 3,043,720 3.58% $56.33 $56.34
CDNS AMC $34.98 1,885,450 6.18% $34.55 $34.12
GOOG AMC $972.92 1,659,910 1.93% $948.23 $935.35
GOOGL AMC $993.84 1,783,040 2.17% $970.66 $956.00

 

Tuesday, July 25: 

Economic: Redbook – 8:55, FHFA House Price Index – 9:00, S&P Case-Shiller HPI – 9:00, Consumer Confidence – 10:00, Richmond Fed Manufacturing Index – 10:00, State Street Investor Confidence Index – 10:00.

International: Great Britain CBI Industrial Trends Survey – 6:00AM.

Other: FOMC meeting begins. 

Earnings:

SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
CAT BMO $106.59 4,771,650 3.92% $108.03 $106.15
CIT BMO $48.99 3,316,170 1.44% $49.11 $48.23
CNC BMO $84.73 1,725,210 4.86% $83.03 $81.92
DD BMO $84.54 2,359,710 2.21% $83.94 $82.81
EDU BMO $79.11 1,388,230 4.76% $78.34 $76.27
GM BMO $36.07 12,536,600 2.71% $35.89 $35.24
HCA BMO $85.73 1,766,250 0.72% $86.14 $85.48
KMB BMO $125.28 1,608,170 2.67% $124.97 $128.83
LLY BMO $84.66 3,561,720 1.53% $83.51 $82.94
MCD BMO $153.92 3,415,690 3.44% $155.09 $153.20
MMM BMO $211.16 1,792,600 1.47% $211.14 $210.82
NEM BMO $34.39 5,328,620 3.30% $33.21 $33.27
PCAR BMO $68.87 1,887,270 2.61% $68.38 $65.94
ST BMO $44.37 1,595,170 2.46% $44.67 $43.09
STX BMO $39.58 5,015,000 9.78% $38.94 $40.10
TROW BMO $80.83 1,716,570 4.37% $78.55 $76.67
AKAM AMC $52.13 2,541,800 13.45% $50.77 $50.53
AMGN AMC $180.21 3,399,800 4.01% $175.58 $170.93
AMP AMC $136.34 1,061,190 3.34% $133.00 $131.22
APC AMC $44.06 5,714,180 2.98% $44.13 $45.52
CB AMC $147.00 1,325,750 2.03% $145.51 $146.09
CMG AMC $345.34 1,133,500 5.50% $390.62 $411.86
CNI AMC $81.98 1,038,510 2.28% $82.99 $81.23
EQR AMC $67.16 1,653,830 2.19% $65.62 $66.41
T AMC $36.51 21,691,200 1.30% $36.48 $37.41
TSS AMC $61.57 1,204,260 6.15% $60.36 $59.72
TXN AMC $81.70 4,579,520 3.16% $80.80 $79.36
UTX AMC $123.49 2,686,420 1.66% $123.07 $122.19
ZION AMC $43.54 2,992,310 2.59% $44.51 $43.49
Wednesday, July 26:
Economic: MBA Mortgage Applications – 7:00, New Home Sales – 10:00, EIA Petroleum Status Report – 10:30.
International Economic: Great Britain GDP – 4:30AM, China Industrial Profits – 9:30PM.
Other: FOMC Meeting Announcement
Earnings:
SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
ALK BMO $88.25 1,270,550 2.79% $92.16 $91.42
ANTM BMO $190.65 1,512,260 3.88% $191.70 $190.72
APH BMO $75.57 1,092,190 1.63% $74.55 $74.41
BAX BMO $62.67 2,925,960 2.62% $61.64 $60.20
CCE BMO $42.07 1,224,800 3.12% $41.68 $41.37
DHI BMO $36.61 3,838,030 3.72% $36.58 $35.35
DISH BMO $64.72 2,279,100 2.13% $65.04 $64.27
FLIR BMO $38.12 1,051,960 4.79% $37.27 $36.27
GD BMO $204.55 1,061,530 2.59% $201.09 $200.65
GLW BMO $31.85 6,144,690 3.56% $31.01 $30.34
GSK BMO $42.66 2,783,810 1.21% $42.41 $43.12
HES BMO $43.46 4,250,150 2.18% $43.37 $43.00
HLT BMO $62.47 3,596,160 2.51% $62.21 $63.97
HSY BMO $106.39 1,044,150 3.08% $105.46 $109.56
IR BMO $91.67 1,575,620 2.90% $92.00 $91.16
KO BMO $45.03 10,869,400 1.43% $44.58 $45.01
MBLY BMO $63.30 2,919,660 2.79% $63.17 $62.96
MDCO BMO $39.47 1,236,820 2.93% $38.22 $38.49
NEE BMO $144.37 1,829,360 1.65% $141.30 $141.44
NSC BMO $117.85 1,631,990 2.63% $122.37 $120.27
SIX BMO $55.87 1,037,610 4.64% $58.07 $58.69
STT BMO $90.99 1,820,600 4.32% $91.36 $89.82
SU BMO $30.64 3,167,660 1.99% $29.48 $29.45
TEL BMO $82.03 1,464,690 2.66% $81.07 $80.43
TMO BMO $182.18 1,429,190 3.24% $179.68 $177.45
WEC BMO $63.37 1,541,930 1.46% $61.52 $62.42
WM BMO $75.37 1,618,650 1.66% $74.34 $73.93
AEM AMC $46.05 1,607,100 4.72% $44.63 $46.69
BA AMC $212.14 2,901,710 2.68% $207.22 $201.03
DFS AMC $62.53 3,352,270 1.62% $61.17 $61.35
ESRX AMC $62.50 4,727,460 3.21% $62.19 $63.81
EW AMC $118.01 1,335,020 10.41% $117.57 $117.17
FB AMC $164.43 17,974,900 2.34% $158.96 $156.03
FTNT AMC $40.37 1,720,960 7.52% $39.80 $39.30
GILD AMC $73.76 8,625,040 5.29% $70.78 $68.75
KNX AMC $35.40 1,542,540 2.64% $35.75 $36.31
LRCX AMC $163.53 2,343,130 3.26% $156.49 $152.18
LVS AMC $62.36 3,406,950 4.39% $61.90 $62.96
NOW AMC $108.19 2,076,500 4.92% $109.83 $106.01
O AMC $57.31 1,813,190 2.24% $55.58 $55.58
ORLY AMC $188.19 1,909,590 4.82% $181.47 $202.24
PYPL AMC $58.67 8,925,340 6.49% $56.93 $55.10
SCI AMC $34.10 1,013,020 3.33% $33.93 $33.16
TER AMC $35.13 2,841,120 3.98% $33.53 $32.57
TSCO AMC $52.61 2,440,320 3.45% $51.16 $53.81
UDR AMC $39.37 1,345,170 1.87% $38.32 $39.03
VRTX AMC $163.17 2,063,260 0.27% $136.49 $144.07
WFM AMC $41.71 8,204,550 3.72% $41.90 $38.40
XL AMC $46.41 1,475,140 2.92% $45.36 $44.39
XLNX AMC $64.88 3,381,610 3.62% $66.53 $65.96

 

Thursday July 27: 

Economic: Weekly Jobless Claims – 8:30, Durable Goods Orders – 8:30, International Trade in Goods – 8:30, Chicago Fed National Activity Index – 8:30, Bloomberg Consumer Comfort Index – 9:45, EIA Natural Gas Report – 10:30, Kansas City Fed Manufacturing Index – 11:00, Money Supply – 4:30.

International Economic: Japan CPI, Household Spending, Unemployment Rate, and Retail Sales – 7:30PM.

Earnings:

SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
ADP BMO $104.58 2,802,580 4.70% $102.52 $102.96
AEP BMO $69.98 2,524,550 0.77% $68.66 $70.54
AIV BMO $44.23 1,280,670 1.88% $43.13 $43.44
ALXN BMO $131.79 3,164,670 3.70% $125.94 $121.58
AMT BMO $136.90 1,860,470 0.96% $0.00 $0.00
AZN BMO $34.05 4,383,660 3.94% $33.42 $33.93
BMY BMO $55.65 7,627,490 4.20% $55.21 $55.76
BUD BMO $114.74 1,522,750 3.99% $113.25 $112.78
BWA BMO $44.92 1,933,260 2.06% $45.82 $43.50
CBG BMO $37.90 1,884,040 4.11% $37.08 $36.36
CELG BMO $137.74 3,952,220 3.11% $133.98 $128.28
CHTR BMO $350.07 1,536,990 3.06% $341.02 $338.03
CL BMO $73.27 3,406,640 2.37% $72.55 $74.51
CMCSA BMO $39.63 18,195,800 2.24% $39.08 $40.03
COP BMO $42.65 8,004,360 1.94% $43.27 $44.61
DFT BMO $60.69 1,157,510 3.54% $60.30 $62.50
DNKN BMO $53.62 1,207,260 2.20% $54.01 $54.80
DOW BMO $66.14 5,404,360 1.33% $65.61 $64.69
DPS BMO $91.38 1,323,970 1.53% $90.02 $92.70
EQT BMO $62.94 3,757,840 3.98% $61.23 $56.48
EXAS BMO $39.17 3,411,730 20.96% $38.35 $35.62
GLPI BMO $37.66 1,250,050 0.72% $37.23 $37.34
GRUB BMO $45.25 2,288,280 15.71% $44.99 $44.88
GT BMO $35.40 2,576,500 3.93% $35.91 $34.81
HP BMO $54.13 2,182,270 4.44% $54.95 $54.60
IP BMO $56.64 2,238,350 2.41% $57.44 $57.18
IVZ BMO $36.05 2,594,000 2.17% $36.07 $35.38
JCI BMO $44.19 4,619,460 3.46% $43.68 $42.76
LKQ BMO $33.50 1,836,850 3.39% $32.52 $32.41
LUV BMO $60.28 4,566,250 7.68% $62.07 $61.69
MA BMO $129.27 3,230,240 2.45% $125.86 $124.36
MAS BMO $38.30 2,586,340 5.42% $38.70 $38.48
MCK BMO $165.92 1,683,020 10.22% $165.82 $164.10
MGM BMO $34.03 7,448,320 4.35% $31.99 $32.27
MJN BMO $89.98 1,930,800 3.80% $89.90 $89.38
MMC BMO $80.01 1,709,190 1.97% $78.66 $78.89
MO BMO $73.42 5,452,300 0.54% $73.65 $75.48
MPC BMO $55.34 4,321,470 1.93% $54.38 $53.28
MPLX BMO $35.84 1,775,760 2.41% $34.98 $33.78
NLSN BMO $39.42 3,142,530 6.32% $38.24 $38.20
PCG BMO $68.26 2,609,960 0.53% $66.08 $67.19
PF BMO $61.15 1,722,930 1.97% $59.12 $59.77
PG BMO $88.61 6,462,290 2.39% $87.54 $88.25
PX BMO $134.74 1,308,010 0.76% $134.06 $134.03
RTN BMO $169.37 1,388,960 2.21% $167.13 $164.44
SAVE BMO $50.12 1,130,330 1.03% $52.53 $52.62
SPGI BMO $153.85 1,104,640 1.24% (3*) $149.47 $148.16
TOT BMO $49.62 1,908,960 0.63% $49.37 $49.73
TPX BMO $55.95 1,245,860 7.16% $53.00 $51.74
UPS BMO $112.68 2,587,420 2.23% $111.42 $110.94
VLO BMO $67.78 4,110,830 3.69% $67.85 $66.23
VNTV BMO $64.26 1,955,780 1.75% $63.21 $62.55
VZ BMO $44.23 15,307,200 2.44% $43.45 $44.90
XEL BMO $47.42 2,597,340 1.02% $46.05 $46.52
ZBH BMO $129.61 1,481,420 6.54% $129.31 $128.96
ACHC AMC $50.89 1,086,200 4.55% $49.51 $48.02
AFL AMC $77.57 1,579,860 2.02% $77.79 $78.53
ALGN AMC $158.87 1,280,830 5.93% $154.58 $151.28
AMZN AMC $1,025.67 3,773,550 2.54% $1,006.84 $992.91
BCR AMC $322.22 1,085,990 2.63% $319.32 $317.69
BIDU AMC $193.18 2,583,310 3.84% $187.09 $183.19
CAA AMC $37.93 1,324,770 3.88% $36.72 $35.88
CERN AMC $65.38 2,294,040 6.63% $65.65 $66.66
DLR AMC $112.46 1,237,090 1.49% $111.69 $115.13
EA AMC $112.22 3,252,010 4.30% $109.56 $110.17
EIX AMC $78.98 1,620,180 0.97% $77.36 $79.48
EMN AMC $85.65 1,129,030 4.96% $85.20 $83.85
ES AMC $61.54 1,255,740 1.01% $60.26 $61.45
EXPE AMC $153.94 1,702,040 2.15% $152.55 $150.06
FE AMC $31.74 4,572,340 1.43% $30.02 $30.05
FLS AMC $46.23 1,270,860 2.88% $46.18 $46.17
FSLR AMC $45.15 3,125,590 11.58% $42.37 $41.04
FTV AMC $63.25 1,352,350 2.73% (3*) $64.14 $63.79
GIMO AMC $38.90 1,185,790 11.33% $38.85 $39.27
HIG AMC $53.79 2,258,180 3.37% $53.27 $52.77
INTC AMC $34.73 22,002,400 3.60% $34.29 $34.63
KLAC AMC $99.89 1,245,760 3.30% $98.41 $96.69
MSCC AMC $52.92 1,276,300 5.14% $50.46 $49.73
PFG AMC $66.42 1,161,350 2.16% $65.80 $64.63
RSG AMC $64.90 1,107,970 1.65% $64.48 $64.05
SBUX AMC $57.98 7,988,860 2.10% $58.21 $59.20
SGEN AMC $54.39 1,069,240 3.92% $53.12 $57.62
SSNC AMC $39.59 1,241,210 4.02% $39.43 $38.32
SYK AMC $146.19 1,109,100 2.35% $143.89 $142.78
UNM AMC $47.80 1,203,400 1.69% $47.72 $46.61
WDC AMC $94.82 4,280,700 5.69% $92.77 $90.01
WRI AMC $31.04 1,022,160 0.95% $30.59 $30.71
WYNN AMC $134.14 1,967,860 7.38% $133.09 $133.34

 

Friday, July 28: 

Economic: GDP – 8:30, Employment Cost Index – 8:30, Consumer Sentiment – 10:00, Baker Hughes Rig Count – 1:00.

International Economic: Eurozone Economic Sentiment – 5:00AM, Germany CPI – 8:00AM.

Other: Minneapolis Federal Reserve Bank President Neel Kashkari to speak at a moderated Q&A at the Woodbury Area/St. Paul Chamber of Commerce event in Oakdale, Minnesota, with audience Q&A – 1:30PM.

Earnings:

SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
AAL BMO $51.91 6,153,610 3.65% $53.11 $51.24
ABBV BMO $74.63 5,545,970 3.06% $72.50 $71.80
BEN BMO $46.67 2,151,870 1.08% $46.07 $45.34
BHI BMO $57.68 2,807,600 2.39% $54.40 $55.37
CMS BMO $46.75 1,779,930 0.86% $45.95 $46.85
COL BMO $109.31 1,336,200 3.51% $109.07 $107.18
CVX BMO $103.25 5,406,860 2.02% $103.91 $105.47
HCN BMO $73.93 1,648,580 0.94% $73.45 $75.12
IRM BMO $35.00 1,109,950 2.82% $34.30 $34.02
LYB BMO $86.87 2,770,650 2.61% $85.47 $83.42
MRK BMO $62.63 8,899,960 1.55% $62.76 $64.32
NOV BMO $33.45 3,285,900 4.59% $33.52 $33.30
PEG BMO $44.72 2,857,790 2.12% $42.83 $43.20
SNY BMO $47.71 1,941,950 1.88% $47.99 $48.41
TRP BMO $51.46 1,331,630 2.17% $49.59 $49.11
VTR BMO $68.65 1,724,970 0.75% $67.91 $69.39
WY BMO $34.43 3,419,710 1.66% $32.98 $33.07
XOM BMO $80.12 11,070,600 1.36% $80.73 $81.67
YNDX BMO $31.41 2,552,580 6.00% $29.52 $28.69
ALSN AMC $37.04 1,421,750 4.41% $38.16 $37.84
SBAC AMC $136.60 1,039,460 2.33% $136.12 $134.87
SLCA AMC $30.60 2,946,000 5.71% $32.71 $33.99
VNO AMC $78.69 1,285,420 1.79% $90.26 $87.25

 

Monday, July 31: 

Economic: Chicago PMI – 9:45, Pending Home Sales Index – 10:00, Dallas Fed Manufacturing Survey – 10:30, Farm Prices – 3:00.

International Economic: Germany Retail Sales – 2:00AM, Germany Unemployment Rate – 5:00AM, Eurozone HICP Flash – 6:00AM, Japan PMI Manufacturing Index – 8:30PM, China PMI Manufacturing Index – 9:00PM.

Other: Bank of Japan Minutes – 7:50PM.

Earnings:

SYMBOL B/A 7/21 CLOSE AVGVOL AVG MOVE SMA 10 50% FIB
SNY BMO $47.71 1,941,950 1.88% $47.99 $48.41
ALSN AMC $37.04 1,421,750 4.41% $38.16 $37.84
SBAC AMC $136.60 1,039,460 2.33% $136.12 $134.87
SLCA AMC $30.60 2,946,000 5.71% $32.71 $33.99
VNO AMC $78.69 1,285,420 1.79% $90.26 $87.25