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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 |
| 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 |