Wednesday, July 29, 2020
Weekly Chart of the S&P 500 Via SPY
We are updating our look at the S&P 500 via our favorite chart of SPY through Tuesday's close.
The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price above the channel. As such, bias is positive with a breakout above the channel. The last change was at the end of April.
Second, the Erlanger Volume Swing (EVS) is at 6.19 from 20.57. Above 0 is good and below 0 is bad. The current action is positive.
Third, the Erlanger Crossover Spread (EC) Spread is now negative at 11.66 from 22.52.
Last,the Erlanger Trend Direction (ETD) remains in an uptrend.
class="article">So what is an investor to do here? We would recommend selective buys.
Positioning in our Morning Matters Portfolio off this chart and several other indicators moved to 100% cash on February 28th (see Flash Alert #446). We have started adding new buys and are 33% invested.
Stocks Futures Are Higher By +6 On The S&P 500
Covid-19 Stats For Tuesday:
Reported Cases yesterday: 53,507 from 55,134.
Tests 733,243 from 760,840
Positivity Rate: 7.30% from 7.25%
Deaths 1,121 from 1,059
Current Hospitalizations 57,091 from 59,023
source COVID tracking project
IPOs Priced: None of note.
Secondaries Priced: TCRR BTAI ARCT of note.
Notes Priced of note: None of note.
Common Stock filings: ARCT CALX of note.
Mixed Shelf Offerings: HFWA SHOP of note.
Convertible Offering Files: None of note.
Senior Notes Filed: None of note.
Courtesy of IPO Financial
Earnings After The Close:
CYH +1.68, RNR +1.33, UMBF +0.96, ENVA +0.76, PKI +0.74, AMED +0.53, DXCM +0.53, CSGP +0.53, BYD +0.52, AMGN +0.48, AXS +0.48, CHRW +0.45, THG +0.41, KAI +0.31, HP +0.31, PLT +0.31, TRMK +0.26, CE +0.25, CAR +0.24, ASH +0.23, AFL +0.23, SYX +0.23, AKAM +0.17, ATRC +0.16, WH +0.16, FCF +0.15, SSNC +0.14, OMCL +0.14, MRC +0.13, ACCO +0.12, MTDR +0.12, FEYE +0.11, SBUX +0.11, PKG +0.11, FTV +0.10, APAM +0.10, TENB +0.09, MPWR +0.08, IMAX +0.08, MDLZ +0.07, MASI +0.06, EGP +0.05, HIW +0.04, NCR +0.03, V +0.03, EBAY +0.02, EQR +0.02, LSCC +0.02, UNM +0.02, WRE +0.02, MXIM +0.02, AMD +0.01, JNPR +0.01, STAG +0.01 of note.
HA (0.39), BXP (0.22), OKE (0.19), CB (0.17), DENN (0.07), UDR (0.06), PEGA (0.06), NWE (0.06), STX (0.03), RXN (0.02), HLI (0.01) of note.
Hourly Tracking -Will return tomorrow as we are doing an overhaul to it.
News After The Close:
Democratic Presidential Candidate Joe Biden says he will pick his VP choice next week.
President Trump holds another head scratcher of a news conference where he again simply walks away.
Moderna (MRNA) looks to price their vaccine at $50 to $60 a shot.
Eastman Kodak (KODK) to produce ingredients for vaccines and generic.
Raises Guidance Raised: FIRE DXCM MPWR SBUX AMD PKI
Lowers Guidance: STX
Raises Dividend: APAM
Stock Split Announcement:
What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction. Futures were down, up, down, new low and now rebounding.
S&P 500 +11 Dow Jones Industrial Average +64 NASDAQ +68 Russell 2000 +9.94. Fair values are lower. Asia mixed and Europe mixed. VIX is at 27.15 from 27.77 this morning.
Gold, silver and copper higher. WTI Crude Oil and Brent Oil Futures higher. Natural Gas is lower. $ is flat vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $139.66 from $139.47 with yields at 0.595%.
Positive Sectors On Tuesday: Real Estate and Utilities of note.
Negative Sectors On Tuesday: Materials, Technology, Energy and Consumer Cyclical of note.
One Month Winners: Materials, Consumer Cyclical and Technology of note.
Three Month Winners: Consumer Cyclical, Technology and Materials of note.
Six Month Winners: Technology,Consumer Cyclical and Healthcare of note.
Twelve Month Winners: Technology, Healthcare, Consumer Cyclical and Communication Services of note.
Year to Date: Technology, Consumer Cyclical, Healthcare and Communication Services of note.
LB +18%, FEYE +12%, AMD +11%, CAR +10%, AGYS +9%, CYH +7%, UMC +7%, SBUX +5%, BXP +%, PLT +5%, IAA +4%, IMAX +4%, BYD +4%, CRTX +4%, JNPR +4%
STX -9%, ALEC -8%, BCS -5%, DENN -4%
Upcoming Earnings Of (sorted by market cap, highest to lowest)
Today After The Close: FB PYPL QCOM NOW CCI EQIX LRCX CTSH ORLY ADM of note.
Tomorrow Morning: LM PG MA CMCSA LLY AZN AMT UPS BUD CI SO MMC MCO NEM of note.
Earnings This Morning Of Note
ANTM +3.41, BG +2.57, GM +1.26, SHOP +1.04, MGLN +1.04, BCO +0.79, TUP +0.60, OC +0.60, BKU +0.59, AER +0.52, TT +0.51, GRMN +0.50, SF +0.50, EEFT +0.41, UTHR +0.40, STRA +0.37, MNRO +0.37, SMG +0.37, AAN +0.36, SITE +0.32, CRTO +0.31, TROW +0.26, PB +0.25, WNC +0.20, UMC +0.19, BDC +0.19, TEL +0.18, ADP +0.18, SLAB +0.17, SAIA +0.17, ETN +0.17, JHG +0.15, LIVN +0.15, FLOW +0.15, ETR +0.11, WING +0.10, BSX +0.10, CLS +0.10, SHOO +0.08, BXMT +0.08, HES +0.07, SNY +0.06, ALKS +0.06, GIB +0.06, ROL +0.05, ENB +0.03, RES +0.03, DT +0.03, IPG +0.03, PAG +0.02, NYCB +0.02, GD +0.01, RDWR +0.01, EPD +0.01 of note.
BA (2.16), SPOT (1.45), SIX (0.63), SC (0.34), GWB (0.14), CCJ (0.11), FDP (0.09), GE (0.06), CHEF (0.04), AXTA (0.04), CME (0.01), MTOR (0.01), GSK (0.01) of note.
Still to Report: APHA, DIN, FSS, MHO, NSC, R, SMP
Erlanger Research Advance/Decline Line Chart – We are no longer showing our proprietary advance/decline model as it is available on a subscription basis. Instead we are now showing a chart of the advance/decline. We hope you enjoy. Close 7/27. Stocks fell on Tuesday in a late afternoon selloff.
Courtesy of Phil Erlanger Research Inc.
Rags & Mags: Highlighted Stories may be clicked through to the original story.
5 Things To Know To Start Your Day (Bloomberg)
5 Things to Know Before The Market Opens On Wednesday. (CNBC)
Stocks Making The Biggest Moves (CNBC)
Corona Virus Update: CA, FL and TX see average daily deaths hit a new high. (CNBC)
Senate Majority Leader McConnell says no negotiations over liability protections. (CNBC)
Conservative Republicans are against new stimulus. (Bloomberg)
Google (GOOGL) in discussions with Samsung to take over more of its search functions. (Bloomberg)
Stock Index Trading
Current through 7/28 close. Indexes moved back below some key moving averages thanks to the afternoon selloff.
Bold means a change from prior day.
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. Updated through 7/28 close. EVL Ranges continues to expand again with the recent action. The Erlanger Value Line are available in Bloomberg for your review. Simply visit the Bloomberg App store at APP(GO).
Courtesy of Phil Erlanger Research, Inc.
Weekly API Petroleum Institute Data came out at 4:30 p.m. EDT yesterday and crude oil inventories rose 7 million barrels while .
Weekly MBA Mortgage Applications were out at 7:00 a.m. EDT and
June Pending Home Sales are due out at 10:00 a.m. EDT and expected to rise to 17% but down from 44.3% last month.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Geopolitical & Related
President Trump heads to Texas to meet with supporters and then sign the Presidential Permits.
House Hearing on Social Media with Facebook (FB), Google (GOOGL), Amazon (AMZN) and Apple (AAPL) CEOs
Federal Reserve Open Market Committee (FOMC) concludes its two day meeting that results in their announcement at 2:00 p.m. EDT and a press conference at 2:30 p.m. EDT.
Meetings, Calls & Conferences
QLYS (Analyst Meeting) LOGM DELL (Update)
Sellside Conferences: KBW Community Bank Investor Conference (7/28-7/30)
Industry Conferences: Alzheimer’s International Conference (7/27-7/31)
Upgrades & Downgrades – Lots of upgrades from fourth and fifth tier firms we do not track.
Today's Superstock Investor Stock Scorecard:
Ruth's Hospitality Group, Inc. (RUTH)
by Superstock Investor
Ruths Hospitality Group (RUTH) is the licensing and holding company of Ruth's Chris Steak House whose price is now at $7.40.
||Ruth's Hospitality Group, Inc.
Stock data last updated 03/19/2019.
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