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November 21, 2017 04:22 PM RSS
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Analysis for Individual Investors

Futures Lower As Tech Rally Fails To Hold

  • WallStreetRebel.com | Geoff Garbacz
  • 07/06/2017 09:14 AM

In After Hours Trading

IPOs on deck none of note. Secondaries of note EGLT FWONK.

In After Hours Trading: MLHR +.09 PSMT -.06 YUMC -.01.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What's Happening This Morning

U.S. futures: S&P -11.50, Dow Jones -90, NDX -53.50 and Russell 2000 -12.20. Asia and Europe lower.Copper,silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and flat vs. Yen. US 10 year Treasury yield at 2.38% yield, one day change +6 one month change +23 and +101 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Technology, Healthcare, Industrials and Services.

Weak Sectors Materials, Energy and Conglomerates.

One month winners Utilities and Services.

Three Month Winners Consumer Goods, Utilities and Technology.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All except for Energy and Conglomerates.

Earnings Expected

Earnings due after the close (by avg. trade volume): CHKE among others.Due Friday morning (by avg. trade volume descending): None of note.

Rags & Mags: Inside Wall Street

Bloomberg:Reported Earnings This MorningReported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): None of note.Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1125 stocks rise and 1773 fall on the NYSE. NASDAQ saw 1254 rise and 1610 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is back above its 50 day moving exponential average and is above 200 day exponential moving average.

The 10 day spread moving average of breadth is back to cash as of last Friday's close. The Madison Market Timing Indicator is now invested since November 18th.

YTD 2608 stocks are higher and 2033 lower. Updated 6/30/17 close.

Economics

Challenger, Gray & Christmas reports the latest job cuts at 7:30 a.m. EDT, and they rose 9% in the last month.The latest ADP Payroll is expected to drop to 185,000 from 235,000.

Weekly Jobless Claims due at 8:30 a.m. EDT.

Weekly Natural Gas and Crude Oil Inventories are due out at 10:30 and 11:00 a.m. EDT respectively.

Politico

Federal Reserve Vice Chairman Stanley Fischer speaks at 7:30 p.m. EDT.Federal Reserve Governor Jerome Powell speaks at 10:00 a.m. EDT. Federal Reserve San Francisco President John Williams spoke this morning at 4:05 a.m. EDT as he is overseas.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, LB CATO FRED BKE CCRN TAHO AXS SAND.

Conference of Note12th Annual Conference on Nephrology & Urology.

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