Thursday, October 03, 2019
Weekly Charts Updated
Each week we highlight charts below of the SP500, Russell 2000, NASDAQ Composite, UUP, EEM, TLT, HYG,LQD and recently GLD. The charts use the 50 day moving average slope indicator. When it is green we like the instrument we are tracking and when it is red we avoid the name/sector/asset class.
U.S. Equity indexes are mixed as May weakness did not last into June. Emerging Markets are now negative. The U.S. Dollar is positive. Bond ETFs are all positive now with HYG back to slightly positive. GLD is the ETF that tracks the price of gold is now positive./p>
Remember what matters is the slope of the 50 day moving average not the 50 day moving average itself. As mentioned above, bond holders should be defensive for the time being. That said, we note the dollar is in rally mode.
All charts are created from www.erlangerchartroom.com and if interested in using this indicator in Chart Room please feel free to send us an email by using the Contact Us section from the home page.
Charts courtesy of www.erlangerchartroom.com
Futures Lower This Morning
IPOs on deck: Aprea Therapeutics (APRE), Frequency Therapeutics (FREQ), Viela Bio (VIE).
IPOs Filed: None filed after the close.
Secondaries on deck: RILY CIO MCBS of note.
Notes Priced: None of note.
Common Stock filings: CIO of note.
Mixed Shelf Offerings filed: NAV of note.
Convertible Offering Files:None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
BBBY +0.03, RECN +0.02 of note.
None of note
News After The Close: (In time order after the close)
U.S. to impose 10% tariff on E.U. aircraft and 25% on ag and industrial goods as of October 18th. WTO to hold meeting on these tariffs per U.S. request.
CSX Corp. (CSX) names Kevin Boone as CFO.
AXT (AXTI) lowers Q3 revenue guidance.
GoPro (GPRO) lowers guidance off investor call.
Dropbox (DBX) CTO Quentin Clark to leave.
Index Changes: Mercury Systems (MRCY) to join S&P 400. Cleveland Cliffs (CLF) and Essential Properties Realty Trust (EPRT) to join S&P 600.
Stock Repurchase: AINC
Early Morning Gap Up/Down: (>4% or <-4%)
Gap Higher: EPRT +5%, CLF +4%, PBYI +4%
Gap Lower: GPRO -15%, AXTI -14%, RECN -5%, BBBY -5%, TSLA -5%, CIO -4%
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.
S&P 500 -4 Dow Jones Industrial Average -37 NASDAQ -9 Russell 2000 +3.93. Fair values are higher. Asia mixed and Europe lower.
Gold higher with silver and copper lower. WTI Crude Oil and Brent Oil Futures lower. Natural Gas is higher. $ is higher vs Euro, lower vs Pound and lower vs Yen. US 10 year Treasury price is at $131.27 from $130.84 with yields at 1,623% from 1.734% . Prices as of 8:40 a.m. EDT.
Positive Sectors On Wednesday: None.
Negative Sectors On Wednesday: Materials, Consumer Goods, Energy, Financials and Industrials.
One Month Winners: Utilities, Consumer Goods, Materials and Financials.
Three Month Winners: Utilities and Consumer Goods.
Six Month Winners: Utilities, Consumer Goods and Financials.
Twelve Month Winners: Utilities, Technology, Consumer Goods and Financials.
Year to Date: Consumer Goods, Industrials and Utilities.
Hourly Action This Week:
Updated through Tuesday close.
Courtesy of Quantitative Partners, Inc.
Upcoming Earnings Of Note (sorted by market cap, highest to lowest)
Today After The Close: COST LMAT SOH ASNA of note.
Friday Before The Open: None of note.
Earnings This Morning Of Note
STZ +0.29, PEP +0.05, ANGO +0.04 of note.
None of note.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
Top Story: Trump Administration hit EU with tariffs. Only $7.5 billion however.(CNBC)
Five Things You Need To Know To Start Your Day. (Bloomberg)
Five Things To Know Before The Market Opens Today. (CNBC)
Hong Kong creates emergency powers, no masks allowed during protests. (WSJ)
UAW may set up a no confidence vote on General Motors (GM) CEO Mary Barra. (NY Post)
Kroger (KR) to eliminate hundreds of jobs. (CNBC)
Stock indexes continue to struggle. Updated through Wednesday.
Bold means a change from prior day.
The advance/decline line moved to a cash yesterday morning. Updated through Wednesday close. Year to date model up 8.73% on the S&P 500. 4 buy signals and 4 cash signals in 2019. The model is now in cash with a gain of 1.28% on the recent buy.
YTD 63% (-3% week over week) of stocks are higher and 37% are lower. Updated 9/27/19 close with next update on 10/4/19 close.
Courtesy of Phil Erlanger Research, Inc.
Algo/HFT Trading Levels:
The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Update through Tuesday’s close.
Courtesy of Phil Erlanger Research
The Value Lines may be accessed via Bloomberg. For a free trial if you ar a Bloomberg user go to APPS CS:ERLA
Economic & Related:
Weekly Jobless Claims are due out at 8:30 a.m. EDT.
August Factory Orders are due out at 10:00 a.m. EDT and are expected to come in at 0.0% from 1.40%.
September ISM Services is due out at 10:00 a.m. EDT and is expected to fall to 55.4 from 56.4.
Weekly Natural Gas Inventories are due out at 10:30 a.m. EDT.
President Trump will head to Florida where he will make a speech on Medicare at 1:10 p.m. EDT.
Federal Reserve Vice Chairman Richard Clarida will speak at 6:30 p.m. EDT.
Conferences & Analyst Meetings:
Company Analyst Meetings and Conference Calls: JJLI (Webcast) HPQ VRA (Analyst Meeting) INTU VRA CYAD ENGIY TOT (Investor Day) SAGE (Conference Call)
Sellside Conferences: Cantor Fitzgerald Global Healthcare Conference. B. Riley Consumer and Media Conference. Cannacord Genuity Cannabis Symposium. Wolfe Research Utilities and Energy Conference.
Industry Conferences: Alliance for Regenerative Medicine – Cell & Gene Meeting.
Verisk Analytics (VRSK) to buy BuildFax, no terms.
Upgrades & Downgrades: Note that SunTrust went 100% in on software names that are cloud and enterprise based.
Today's Superstock Investor Stock Scorecard:
PepsiCo, Inc. (PEP)
by Superstock Investor
Pepsi (PEP) beat estimates after the close with earnings of $2.91 versus estimates of $2.62. The current price is $133.94.
||Food Beverage & Tobacco
Stock data last updated 03/19/2019.
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