Could the chart of the largest Chinese ETF FXI be telling us something about the state of the trade deal?
One of my favorite formations being that I am from Wisconsin is the "W" formation. This can also be known as a double bottom. Currently, FXI is making a double bottom.
We like double bottoms because if it does not take then there is an easy exit.
IPOs on deck none of note today but 7 on track for this week. Secondaries of note PSDO REVB.
Filings after close .
data courtesy of IPO Financial
In After Hours Trading: SURPRISES ORCL +.03. FLAT: MISSED: FDX -.37.
Lower Guidance: .
Mixed Guidance: FDX ORCL.
Positive Guidance: .
Gold flat to up slightly with cooper and silver higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury price 119.16 with yields lower overnight. Prices as of 8:00 a.m. EDT.
Top Sectors Utilities and Materials.
Weak Sectors Services and Technology.
One month winners Healthcare,Consumer Goods, Services and Technology.
Three Month Winners Healthcare, Consumer Goods, Services and Technology.
Six Month Winners Conglomerates, Services and Technology.
One Year Winners All except for Utilities.
Year To Date Conglomerates, Healthcare and Services.
Earnings due Monday: CPRT USAT .
Commerce Secretary Wilbur Ross says China is out of bullets. (CNBC)
Salesforce (CRM) to compete with Microsft (MSFT) and powerpoint. Hint Google (GOOGL) does already. (CNBC)
China vows to retaliate. (Bloomberg)
Alibaba (BABA) Chairman Jack Ma warns trade war could last 20 years. (Bloomberg)
Flooding a big problem in North Carolina. (NYT)
Elon Musk and his company Space X to go circle the Moon with first tourist. (Google News)
HBO (T) and Netflix (NFLX) tie at the Emmy awards. (WSJ)
Lower Guidance: APOG.
Current Morning missing: .
Mixed Guidance: .
Positive Guidance: .
Yesterday saw 1146 stocks rise and 1735 fall on the NYSE. NASDAQ saw 971 rise and 2059 fall.
The SP 500 is above its 50 day exponential moving average and is above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and is above 200 day exponential moving average.
The 10 day spread moving average of breadth moved to cash last week. The Madison Market Timing Indicator is still invested.
YTD 55% of stocks are higher and 45% are lower. Updated 9/14/18 close.
Janney Montgomery Scott Healthcare Conference.
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|Banc of America|