June 15, 2017 Market Wrap Up

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We saw a broad market sell off today in all major indices. However, volumes were below average, a day after the FOMC decided to raise the key interest rate. That said, we should see some added volatility near the close as tomorrow is Quad Witch and the quarterly rebalance of the S&P 500.

The VIX moved up 2.44% higher, closing at 10.90.

Index ETF movers: SPDR S&P 500 ETF (SPY) -0.19%, iShares Russell 2000 (IWM) -0.51%, SPDR Dow Jones Industrials Average ETF (DIA) -0.07%, and PowerShares QQQ ETF (QQQ) -0.44%

Commodity and futures related ETF movers: United States Oil Fund (USO) -0.54%, iShares 20+ Year Treasury Bond (TLT) -0.16%, SPDR Gold Shares (GLD) -0.42%.

On the options front, we saw large call buying activity in AK Steel Holding (AKS), which traded 3.4 times normal option volume. In addition, we saw heavy put buying in Depomed Inc (DEPO), which traded 4.0 times normal option volume.

Key Economic Data:
16 June 2017- Housing Starts 8:30 AM ET

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June 13, 2017 Market Wrap Up

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No harm… No foul.

After a volatile session last Friday and a shaky start on Monday, the markets appear to be back to their slow grind up. That said, all eyes will be on the FOMC meeting tomorrow as many market participants are expecting the Fed to raise rates in June.

The VIX sold off about 9%, closing at 10.42.

Index ETF movers: SPDR S&P 500 ETF (SPY) +0.49%, iShares Russell 2000 (IWM) +0.51%, SPDR Dow Jones Industrials Average ETF (DIA) +0.46%, and PowerShares QQQ ETF (QQQ) +0.81%

Commodity and futures related ETF movers: United States Oil Fund (USO) +0.74%, iShares 20+ Year Treasury Bond (TLT) +0.02%. SPDR Gold Shares (GLD) -0.05%.

On the options front, we saw large call buying activity in El Pollo Loco (LOCO), which traded 13.2 times normal option volume. In addition, we saw heavy put buying in Bloomin Brands Inc (BLMN), which traded 94.2 times normal option volume.

Key Economic Data:
14 June 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET: FOMC Meeting Announcement 2:00 PM EST
15 June 2017- Jobless Claims; Philly Fed Survey; Industrial Production 9:15 AM ET
16 June 2017- Housing Starts 8:30 AM ET

Key Earnings:
14 June 2017- JBL, LAKE, CRWS
15 June 2017- FNSR, KR

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June 11, 2017 The Week Ahead

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The markets ended the week mixed ahead of the FOMC meeting and announcement. On Friday, the market’s fear index, the VIX, hit a 23-year low during the trading session. Shortly after, Nasdaq stocks started to sell off aggressively.

The June futures in the Nasdaq 100 traded in a range between 5660.25 to 5898.75, closing down 2.46% on the day, at 5740.50.

It’s hard to say what exactly sparked the catalyst. It could have been caused by uncertainty leading up to the FOMC announcement.

Another possibility could have been cautious comments out of Citron Research on Nvidia Corporation calling it a “casino stock.” On Friday, shares of the stock traded in a range between $142.75 and $168.50, closing down -6.46%, at $149.60.

That volatility triggered other Nasdaq names like Apple (-3.88%), Alphabet Inc. (-3.41%), Amazon.com, Inc. (-3.16%), and Facebook Inc. (-3.28%).

The VIX end up modestly higher, closing at 10.70 on Friday, a gain of 5.31%

Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) -0.31%, iShares Russell 2000 (IWM) +1.26%, SPDR Dow Jones Industrials Average ETF (DIA) +0.36%, and PowerShares QQQ ETF (QQQ) -2.43%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -3.75%, iShares 20+ Year Treasury Bond (TLT) -0.97%, SPDR Gold Shares (GLD) -0.88%.

Below you’ll find what is else is on the schedule for the week:

Key Economic Data:
13 June 2017- PPI 8:30 AM ET
14 June 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET: FOMC Meeting Announcement 2:00 PM EST
15 June 2017- Jobless Claims; Philly Fed Survey; Industrial Production 9:15 AM ET
16 June 2017- Housing Starts 8:30 AM ET

Key Earnings:
13 June 2017- HRB
14 June 2017- JBL, LAKE, CRWS
15 June 2017- FNSR, KR

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June 7, 2017 Market Wrap Up

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There was some uncertainty going into today, the upcoming British elections along with a testimony from former FBI commissioner James Commey. That said the market was weak for most of the day until it rallied and closed higher.

The VIX sold off and closed at 10.39.

ETF movers: United States Oil Fund (USO) -5.12%, iShares 20+ Year Treasury Bond (TLT) -0.48%. SPDR Gold Shares (GLD) -0.53%.

On the options front, we saw large call buying activity in Lattice Semiconductor Corp (LSCC), which traded 19.8 times normal option volume. In addition, we saw heavy put buying in Aspen Technology Inc (AZPN), which traded 32.2 times normal option volume.

Key Economic Data:
08 June 2017- Jobless Claims 8:30 AM ET

Key Earnings:
07 June 2017- NAV, ABM, MIND, ONVO, TLRD, VRNT
08 June 2017- CMD, DVMT, FCEL, SJM, VNCE, PAY

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June 3, 2017 The Week Ahead

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This year has been about two narratives:

    1. President Trump is a disaster.
    2. The stock market continues to break all-time highs, week-after-week.

It’s been 231 trading days without having a 5% drawdown from our peak, making this the longest streak since 1996.

The thing is, trading volumes are drying up as we enter the summer months and most of Q1 earnings releases are out.

Markets could continue to grind higher despite being at highs.

The VIX closed below 10 for the second straight week, an indication that the markets are fearless.

Here is how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) +1.00%, iShares Russell 2000 (IWM) +1.65%, SPDR Dow Jones Industrials Average ETF (DIA) +0.63%, and PowerShares QQQ ETF (QQQ) +1.77%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -1.79%, iShares 20+ Year Treasury Bond (TLT) +1.91%, SPDR Gold Shares (GLD) +1.78%.

It’s a slow week in terms of economic data and earnings. That said, Apple is hosting its worldwide developers conference in San Jose from June 5 to the 9th. An event that should garner strong media attention.

Below you’ll find what is else is on the schedule for the week:

Key Economic Data:
07 June 2017- EIA Petroleum Status Report 10:30 AM ET
08 June 2017- Jobless Claims 8:30 AM ET

Key Earnings:
05 June 2017- ASNA, COUP, THO
06 June 2017- CONN, CSIQ, FRAN, FRED, HDS, LE, MIK, AMBA, DLTH, KEYS, PLAY, SIGM, UNFI
07 June 2017- NAV, ABM, MIND, ONVO, TLRD, VRNT
08 June 2017- CMD, DVMT, FCEL, SJM, VNCE, PAY

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May 29, 2017 The Week Ahead

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Another week… another all-time high. That’s what it feels like for market participants as the market continues to slowly push higher. It’s been 231 trading days without having a 5% drawdown from our peak, making this the longest streak since 1996.

What will give?

It seems like the media is trying its best to portray the President and his regime a failure. But traders and investors are playing a different tune. That said, a large chunk of the earnings are behind us and we are entering the slow days of summer.

After climbing above 15 a couple weeks ago, the VIX is now below 10, after closing at 9.81 on Friday.

Here are how some of the most popular ETF Indices performed: SPDR S&P 500 ETF (SPY) +1.43%, iShares Russell 2000 (IWM) +1.11%, SPDR Dow Jones Industrials Average ETF (DIA) +1.33%, and PowerShares QQQ ETF (QQQ) +2.45%

Oil prices fell during the week, in a classic– buy the rumor and sell the news scenario following the OPEC meeting.

Here are how some futures/commodity related ETF’s performed: United States Oil Fund (USO) -1.91%, iShares 20+ Year Treasury Bond (TLT) -0.19%, SPDR Gold Shares (GLD) +0.95%.

No trading on Monday in observance of Memorial Day.

Below you’ll find what is else is on the schedule for the week:

Key Economic Data:
30 May 2017- Personal Income and Outlays 8:30 AM ET
01 June 2017- Jobless Claims 8:30 AM ET; ISM Manufacturing Index 10:00 AM ET; EIA Petroleum Status Report 11:00 AM ET
02 June 2017- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET

Key Earnings:
30 May 2017- ENS
31 May 2017- KORS, VRA, BOX, HPE, PANW, SMTC, OLLI
01 June 2017- CIEN, DG, EXPR, AVGO, BOOT, GWRE, LULU, VMW, WDAY, ZUMZ
02 June 2017- HOV

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May 25, 2017 Market Wrap Up

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The stock market closed higher, as both the Nasdaq and S&P 500 hit all-time record highs. On the other hand, trading volumes have been below average, not exactly a bullish sign. However, we are entering the Memorial Day weekend and summer months.

After trading above 16 last week, the VIX is now back below 10 as it closed at 9.99.

In other news, OPEC met today and decided to cut production. That said, the energy sector has been rallying for two weeks ahead of this announcement. A classic sell the news scenario, as oil sold off as more than 5%

ETF movers: United States Oil Fund (USO) -5.28%, iShares 20+ Year Treasury Bond (TLT) +0.03%, SPDR Gold Shares (GLD) -0.11%.

On the options front, we saw large call buying activity in Bill Barrett Corporation (BBG), which traded 4.6 times normal option volume. In addition, we saw heavy put buying in Visteon Corporation (VC), which traded 7.6 times normal option volume.

Key Economic Data:
26 May 2017- Durable Goods Orders 8:30 AM ET; GDP 8:30 AM

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May 23, 2017 Market Wrap up

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The stock market closed the day higher, extending its streak to 4 straight winning days. That said, trading volumes have been below average as we await some key economic data this week — FOMC minutes tomorrow and GDP on Friday.

After trading above 16 last week, the VIX is now back below 11 as it closed at 10.72.

One sector that should be active over the next few days is the oil complex. OPEC is set to come together in two days for its 172nd meeting. Many are speculating that the oil ministers will issue out more production cuts.

ETF movers: United States Oil Fund (USO) +0.95%, iShares 20+ Year Treasury Bond (TLT) -0.67%. SPDR Gold Shares (GLD) -0.63%.
On the options front, we saw large call buying activity in ConAgra Brands Inc. (CAG), which traded 5.2 times normal option volume. In addition, we saw heavy put buying in Dollar General Corporation (DG), which traded 4.2 times normal option volume.

Key Economic Data:
24 May 2017- PMI Composite Flash 10:30 AM ET; Existing Home Sales 10:00 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Minutes 2:00 PM
25 May 2017- International Trade in Goods 8:30 AM ET; Jobless Claims 8:30 AM ET
26 May 2017- Durable Goods Orders 8:30 AM ET; GDP 8:30 AM

Key Earnings:
24 May 2017- AAP, LOW, TGI, TIF, GES, HPQ, NTAP, PSTG, PVH, UHAL, WSM
25 May 2017- ANF, BBY, BURL, DLTR, SIG, BRCD, COST, GME, MRVL, PDCO, SPLK, VEEV, VNET, ZOES

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May 21, 2017 The Week Ahead

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All major stock indices sold off this week. Despite still trading near all-time highs, we saw our first real taste of volatility on Wednesday when the S&P 500 plunged 1.82%.

Market fear erupted when rumors of a Trump impeachment started making the rounds. Some believe the rally in the stock market this year has been driven by expectations that Trump’s economic policies would boost business.

Some media outlets painted the picture that Trump’s administration was in serious trouble, putting additional selling pressure on stocks. That said, the markets did rally on Thursday and Friday.

Interestingly, on Wednesday, the VIX had one of it’s largest percentage gains on record, popping more than 46%, moving from 10.65 to 15.59. The VIX ended up closing at 12.04 on the week.

The coming week is packed with economic data including GDP, FOMC Minutes and the 172nd OPEC Meeting.

Here are how some of the most popular ETF Indices performed: SPDR S&P 500 ETF (SPY) -0.28%, iShares Russell 2000 (IWM) -1.08%, SPDR Dow Jones Industrials Average ETF (DIA) -0.59%, and PowerShares QQQ ETF (QQQ) -0.55%

Oil prices rebounded but are still down more than 10% on the month. Here are how some futures/commodity related ETF’s performed: United States Oil Fund (USO) +5.33%, iShares 20+ Year Treasury Bond (TLT) +1.91%, SPDR Gold Shares (GLD) +2.20%.

Below you’ll find what is else is on the schedule:

Key Economic Data:
23 May 2017- New Home Sales 10:00 AM ET
24 May 2017- PMI Composite Flash 10:30 AM ET; Existing Home Sales 10:00 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Minutes 2:00 PM
25 May 2017- International Trade in Goods 8:30 AM ET; Jobless Claims 8:30 AM ET
26 May 2017- Durable Goods Orders 8:30 AM ET; GDP 8:30 AM

Key Earnings:
22 May 2017- BAH, A
23 May 2017- AZO, CBRL, DSW, TOL, INTU, TTWO, UVV
24 May 2017- AAP, LOW, TGI, TIF, GES, HPQ, NTAP, PSTG, PVH, UHAL, WSM
25 May 2017- ANF, BBY, BURL, DLTR, SIG, BRCD, COST, GME, MRVL, PDCO, SPLK, VEEV, VNET, ZOES

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May 17, 2017 Market Wrap Up

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The stock market saw its first taste of volatility on the year, all major indices dropped on above average trading volume: Dow Jones Industrials -1.78%, S&P 500 -1.82%, Nasdaq -2.57%, and the Russell 2000 -2.78%

The VIX exploded, gaining 4.83 points and closing at 15.48, an increase of 45% from yesterday’s close.

Now, here is how some of the other closely followed ETFs did: United States Oil Fund (USO) +0.79%, iShares 20+ Year Treasury Bond (TLT) +1.46%. SPDR Gold Shares (GLD) +1.82%.

On the options front, we saw large call buying activity in Colgate Palmolive (CL), which traded 7.4 times normal option volume. In addition, we saw heavy put buying in Michaels Companies (MIK), which traded 19.7 times normal option volume.

Here is what is left on the schedule:

Key Economic Data:
18 May 2017- Jobless Claims 8:30 AM ET; Philly Fed Survey 8:30 AM ET

Key Earnings:
17 May 2017- AEO, QIWI, TGT, CSCO, FLO, LB, SNPS
18 May 2017- BONT, EXP, MNRO, RL, SSI, WMT, AMAT, CRM, GPS, MCK, ROST
19 May 2017- CBD, DE, FL

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