July 21, 2015 Market Wrap Up

The S&P 500 continued to trade slightly lower today in a rather quiet session. However, things heated up in the after-hours with plenty of big name companies reporting earnings.

With that said, the VIX closed lower, settling below 12.50.

In the after-hours, we got earnings results from Microsoft, Apple, Yahoo, and CMG. At the time of this writing, all four of them are trading down. Because of that, both the NASDAQ and S&P 500 are trading lower. One high flyer that is actually trading higher is GoPro; the company guided higher.

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July 19, 2015 The Week Ahead

The S&P 500 ended Friday’s action not too far off yearly highs. The Greek drama appears to be under control, and the sell off in the Chinese market has cooled off.

With that said, the focus is now on earnings. On Thursday evening, Google announced their earnings, with an unexpected positive response from Wall Street. The stock gained more than 16%, helping the NASDAQ hit an all-time high.

Heading into next week, we have a ton of earnings. Companies reporting include Apple, Starbucks, IBM, Microsoft, Coca-Cola, and a whole bunch more.

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July 14, 2015 Market Wrap Up

The S&P 500 continued trading higher today, getting closer to the yearly highs. The S&P 500 is nearly 70 points higher over the last six days.

With that said, the VIX has collapsed during that period. The VIX is now under 13.50, closing the day at 13.37.

It appears the fears in China and Greece are subsiding. The focus is now turned to earnings.

In respect to energy, The Crude Oil futures bounced, and are now trading above $53 per barrel.

On the options front, we saw bullish call buying in Express Inc (EXPR) . We also saw bearish option activity on Invesco Mortgage Capital Inc (IVR).

In addition to earnings, Janet Yellen will be delivering her fourth semi-annual monetary policy testimony before Congress. Although it’s not expected to be market moving, it is still worth keeping an eye out on.

Not only that, but the Delivering Alpha hedge fund conference is tomorrow. Some of the brightest minds in the industry will be on display, sharing their thoughts on the markets.

Here’s what’s else on tap for tomorrow:

Key Economic Data:
15 July 2015- PPI 8:30 AM ET, Industrial Production 9:15 AM ET
16 July 2015- Jobless Claims 8:30 AM ET, Philly Fed Survey 10:00 AM ET
17 July 2015- CPI 8:30 AM ET, Housing Starts 8:30 AM ET

Key Earnings:
15 July 2015- BAC, BLK, ASML, USB, INTC, KMI, NFLX
16 July 2015- C, DPZ, EBAY, GS, KEY, MTG, PM, PPG, SCHW, SON, TSM, UNH, AMD, GOOGL, MAT, REGN, SLB
17 July 2015- GE, HON, KSU

July 12, 2015 The Week Ahead

The S&P 500 ended Friday’s action strong on hopes that the Chinese market would rebound and that the Greek/Euro drama will be resolved.

However, the negotiations as of late, have not gone well. With that said, expect further volatility in the market.

In addition, earnings season kicks off its second week with some banking names along with Google and Netflix.

The combination of Europe, China, and earnings should make it interesting for generally a period in which traders are thinking more about vacation than the markets.

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July 9, 2015 Market Wrap Up

The S&P 500 had another volatile trading session, opening the day strong but barely hanging on to gains by the end. All in all, The SPY had a range of 204.77 to 207.35, closing near its low of the day.

With that said, the VIX had a range of 17.20 to 20.15, closing the day near highs at 19.97.

The focus again is on Europe and Asia. The Asian market bounced overnight, however, the Chinese ADRs faded from their highs as we got near the close.

In respect to energy, The Crude Oil futures bounced, snapping a five day losing streak.

On the options front, we saw bullish call buying in Kate Spade and Company (KATE) . We also saw bearish option activity in F5 Networks (FFIV).

Here’s what’s on tap for tomorrow:

Key Economic Data:
9 JULY 2015- Jobless Claims

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