Market Update 18.05.2017

S&P500 :

SPYD1

The prior pivots for trading are 2405.77 and 2321.25 on SPX (240.67, 231.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 months on SPX. Don’t get too bearish until SPX broke and hold below 2322.25 .

NASDAQ :

QQQD1        XLKD1

The prior pivots for trading this week are $139.64 and $133.82 on QQQ ($56.13 – $53.63 for XLK) .Bulls should step in at $133.82, if this didn’t happen we may see a move to $130.40 or $129.25 .

Financial : 

XLFD1

Next spot to watch is $22.90 , if bears broke and hold below we can go to $22.50 or we may see more significant downward action to $21.90.

Biotechnology :

IBBD1

As biotech fail to maintain gains and gain power for further upside action in March and May we may see a move down below $286. Don’t get too bearish until market will broke and hold above this level.

 

Advertisements

03/27 – 03/31 Financials

XLF

The prior pivots for trading this week are 23.23 and 23.88 on XLF. As long as XLF hold  below 23.88, stay bearish and watch for follow through to clear 23.23 and after 22.84. If bulls build up power and broke 23.88 i will avoid this sector.

Strong stocks : 

MMC, AON, MCO.

Weak stocks : 

BRK.B , JPM, WFC, GS, USB, AIG, COF, BBT, TRV, DFS, ZION, SYF.

 

03/20 – 03/24 Financials

XLFD1

As long as FOMC remain hawkish financials will continue to add in gains but in spite of the fact that FOMC raise rates last week financials have shown some weakness, see how it will react at 24.25 as prior pivot for this week. If bulls didn’t step in at this level we may see a move to 23.85.

Strong stocks : 

JPM, WFC, CB, AXP, SCHW, PRU, CME, MMC, ICE, SPGI, TRV, AON, ALL, PGR, AMP, MCO, PFG, TMK, CBOE.

Weak stocks : 

GS, COF, SYF, TROW.

03/13 – 03/17 Financials

XLFD1

As long as FOMC remain hawkish financials will continue to add in gains. New catalyst for move in this sector may be found this week on Wednesday when we will have new data about Fed Interest Rate Decision . The prior pivots for trading this week is 25.30 and 24.67 on XLF. As long as XLF hold 24.67, stay bullish and watch for follow through to clear 25.30, trading strong stocks. If bears build up power and broke 24.67, see if they hold and watch for follow through to 24.38  24.25 and after to 23.75trading weak stocks.

  • Strong Stocks : MA, PYPL, TSS, V, ALL, CB, PGR, TRV, HIG, PFG, PRU, UNM, MMC, MS, SCHW, AMP, BEN, NTRS, FRC, PNC, C, JPM, USB, WFC, CBG, CME, ICE, SFR.
  • Weak Stocks : AIG, AMTD, AIV, PLR, HPP, HCN, MAC, NNN, O, REG, SPH, VTR.

03/06 – 03/10 Financials

xlfd1

As long as FOMC ramain hawkish financials will continue to add in gains. Next week we have new data about labor market from which depends directly on whether rates will be raised or not. The prior pivots for trading this week is 25.30 and 24.67 on XLF. As long as XLF hold 24.67, stay bullish and watch for follow through to clear 25.30, trading strong stocks. If bears build up power and broke 24.67, see if they hold and watch for follow through to 24.38  24.25 and after to 23.75trading weak stocks.

  • Strong Stocks : AMT, CME, DLR.
  • Weak Stocks : REG, SPG.

It Services : 

  • Strong Stocks : MA, PYPL, TSS, V.

Insurance :

  • Strong Stocks : ALL, CB, FNF, PGR, TRV, PFG, PRU, UNM, AJG, MMC.

Capital Markets : 

  • Strong Stocks : MS, SCHW, AMP, BEN.
  • Weak Stocks : AMTD.

Consumer Finance : 

  • Strong Stocks : AXP, COF.

Banks : 

  • Strong Stocks : CFG, OZRK, STI, CMA, JPM, WFC.

 

 

02/27 – 03/03 Financials

xlfd1

As long as FOMC ramain hawkish financials will continue to add in gains, however, next week we don’t have catalyst to continue move up, except that  Trump might say something on tuesday. The prior pivots for trading this week is 24.68 and 24.31 on XLF which are also the highs and lows on weekly chart of the last week. As long as XLF hold 24.31, stay bullish and watch for follow through to clear 24.68 level, trading strong stocks. If bears build up power and broke 24.31, see if they hold and watch for follow through to 23.90, trading weak stocks.

  • Strong Stocks : MA, TSS, V, AGO, ALL, CB, PGR, XL, L ,ATH, PFG, PRV, UNM, ASG, MMC, AMP, MTB, PVTB, STI, JPM, GEO.
  • Weak Stocks : WU, AIG, AMTD, BRX, LHO, SPG.