July 7, 2015 Market Wrap Up

The S&P 500 had a pretty wild range today, opening the day positive, selling off, only to have a rally by the close. All in all, The SPY had a range of 204.11 to 208.17, closing near its high of the day. In respect to the DOW, this was the single biggest single day reversal in over four years.

With that said, the VIX had a range of 15.93 to 19.20, closing the day slightly higher at 17.22.

The focus today was on Europe and Asia. The Asian market was weak overnight, causing a lot of early morning selling pressure on stocks like BIDU, BABA, QIHU, BITA and SINA to name a few. Many of these names rebounded nicely off the lows.

In respect to energy, The Crude Oil futures had their fourth straight down day. In fact, we’re very close to our three month lows, as the futures are down nearly $7 over the last four sessions.

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July 5, 2015 The Week Ahead

The S&P 500 ended Friday’s action on another down note. This week we had three out of five down days, including a pretty sharp sell off on Monday. Of course, a great deal of the sell off was attributed to the uncertainty out of Europe, and whether or not Greece will accept further austerity.

Later today, the Greek citizens will vote on the referendum. With that said, keep an eye out on how the futures market reacts this evening.

In addition, earnings season kicks off again, with Alcoa, Pepsi, and Walgreens. As we get a clearer picture on how the Eurozone handles their issues, the focus will shift over to company earnings and growth.

Not only that, but we’ll get some more insight on how the FED plans on handling their rate hike, as the FOMC Minutes will be released on July 8th.

Here’s what’s on the schedule:

Key Economic Data:
7 JULY 2015- International Trade 8:30 AM ET
8 JULY 2015- FOMC Minutes 2:00 PM ET
9 JULY 2015- Jobless Claims

Key Earnings:
7 JULY 2015- TCS
8 JULY 2015- AA
9 JULY 2015- PEP, WBA

July 2, 2015 Market Wrap Up

The S&P 500 sold off a little on the last trading day of the week. The market is patiently waiting to see how Greek citizens vote on Sunday, on whether or not they’ll accept austerity.

The VIX traded higher, settling at 16.79. As mentioned earlier this week, the VIX nearly hit 20 a couple days ago. We could see those levels again next week, if the Greeks vote no to further austerity.

In respect to energy, The United States Oil Fund was traded lower, closing at 18.93.

It will probably be worth paying attention to the currency market and precious metals like gold and silver.

On the options front, we saw bullish call buying in Discovery Communications Inc (DISCA) and AMC Networks Inc (AMCX). We also saw bearish option activity in Arm Holdings Plc (ARMH).

The markets are closed tomorrow in honor of Independence Day. From those of us here at TVC, have a happy and safe Fourth of July.

June 30, 2015 Market Wrap Up

The S&P 500 bounced back a little after yesterday’s big sell off. The market is patiently waiting for news out of Greece. Right now, it seems like a toss up, on whether or not they’ll come to a resolution or possibly default on their debt.

The VIX has exploded over the last two days, hitting a high of 19.80 and settling at 18.23.

In respect to energy, The United States Oil Fund was trading higher, closing at 19.88, which was good for a 2% pop.

On the options front, we saw bullish call buying in Melco Crown Entertainment Limited (MPEL) and Sysco Corporation (SYY). We saw bearish put buyers in Michael Kors Holdings (KORS).

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June 28, 2015 The Week Ahead

The S&P 500 ended Friday’s action sitting right below it’s yearly highs. That’s pretty impressive given the recent headline risk coming out of Europe and China.

Over the weekend, fears increased that Greece and the ECB would not be able to come up with a resolution. In fact, there are early Sunday reports stating that Greek Banks and their stock exchange will be shut down on Monday.

It’s worth watching how the futures open up this evening. This has the potential to cause a spike in market volatility. Especially, since we are not expecting a lot of volume in the markets, as Friday, we’re closed in honor of Independence Day.

The VIX is slightly above the 14 level as of Friday’s close.

Crude Oil futures finished the week at their lows; closing right below $60 per barrel.

It’s a very light schedule in respect to economic numbers and earnings. In addition, it’s a shortened week. However, the headline risk out of Europe should make things exciting.

Here’s what’s on the schedule:

Key Economic Data:
1 JULY 2015- ISM Manufacturing Index 10:00 AM ET
2 JULY 2015- Employment Situation 8:30 AM ET, Jobless Claims 8:30 AM ET

Key Earnings:
29 JUNE 2015- APOL
30 JUNE 2015- CAG, CAMP
1 JULY 2015- GIS, STZ

June 25, 2015 Market Wrap Up

The S&P 500 was relatively weak today; however, the market is still in limbo, waiting for a resolution to come out of Greece. Any hints of a resolution pushes the market higher, while any talks that a deal is farther apart, pushes the market lower.

The VIX is now above $14, closing the day at 14.11, an increase of nearly 6.5%.

In respect to energy, The United States Oil Fund was trading lower, closing at 19.98, which was good for a 1% drop.

On the options front, we saw bullish call buying in Foot Locker Inc (FL) and Deere & Co (DE). On the bearish side of options, we saw put buyers step in Illumina Inc (ILMN).

Here’s what’s left on the schedule for tomorrow:

Be aware that we might see a lot of action near the close , due to the Russell rebalance.

Key Economic Data:
25 June 2015- Jobless Claims 8:30 AM EST, Personal Income & Outlays 8:30 AM ET

Key Earnings:
26 JUNE 2015- CAG, FINL

June 23, 2015 Market Wrap Up

The S&P 500 was relatively flat today; however, its relatively maintaining all-time high levels in several of the indices.

The market is still awaiting positive news out of Greece. Right now, it appears that a debt deal will happen sooner than later.

The VIX is now below 12.50, closing the day at 12.11, a decline of nearly 5%.

In respect to energy, The United States Oil Fund was trading up, closing at 20.47, which was good for a gain of 1.6%

On the options front, we saw bullish call buying in Cheniere Energy Inc (LNG) and Ally Financial Inc (ALLY). On the bearish side of options, we saw put buyers step into LHC Group (LHCG).

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June 21, 2015 The Week Ahead

Now, the S&P 500 ended Friday’s action on a weak note. However, it was up on the week, and still very near all-time highs.

Recent attention has been on China, as the Shanghai Index sold off more than 6% this week. If a continued sell-off occurs that could have implications on global markets.

In addition, the market is still waiting on what the resolution/outcome on Greece will be.

The VIX is slightly below the 14 level; however, on Friday, we did see it nearly gain 6% and close at 13.96.

Crude Oil futures prices barely changed this week; closing right below $60 per barrel.

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