S&P 500 Just 3 Points From Its Record
Stocks As Close To Record As Possible Somehow stocks rallied, but still didn’t reach their record high. S&P 500 increased 0.41% to 3,022.55. Record is 3,025.86. Any increase on Monday should break the record. It has been painstaking. For much of the past couple months the S&P 500 has been within a couple percentage points…
New Home Sales Remain Near Cycle High
Weak Kansas City Fed Manufacturing Report Kansas City Fed manufacturing report was worse than the previous 3 regional Fed reports as the current and expectations indexes both fell. Unlike the prior 3 reports, this one has quotes which give us context on the numbers. As you can see from the chart below, the index fell…
Prepare For a Transition Back to Volatility
Stocks end the week higher right to edge of the expected move we talked about last Friday. The markets efficiency has been uncanny. This has allowed us to do very well with our earnings butterfly trades. Watch this crucial weekend video newsletter so you can navigate next week's minefield in the markets...
Flash Manufacturing PMI at a 6 Month High
Weak Durable Goods September durable goods orders report was terrible. On a monthly basis, new orders growth was -1.1% which missed estimates for -0.7% and fell from August’s 0.3% growth. The chart below beautifully shows the cycle as it is the 12 month rolling average of the 12 month cumulative change in orders. As you…
Twitter & Amazon Report Weak Quarters
Stocks Inch Closer To Record High S&P 500 rallied on Thursday, but didn’t reach a new high. There is very sharp resistance at the record high. S&P 500 was up 19 basis points to 3,010 which is the highest level since July 30th. It is now about 15 and a half points away from the…
Major Earnings Expected Move Plays Right Now
This week gave us plenty of opportunities to trade earnings expected move butterflies, and more trades are available in the next few days with large companies reporting earnings. In tonight's video, Corey briefly reviews today's levels on AMZN and INTC while discussing upcoming targets in stocks such as GOOGL...
Microsoft and Tesla Beat EPS Estimates
Market Rises Slightly On Wednesday Stocks rose slightly on Wednesday as the S&P 500 continues to hover near the 3,000 level which is just below its record high. S&P 500 rose 0.28% to 3,004.52. Even though the action seems boring, the intraday session was interesting. It was the exact opposite of Tuesday as stocks rallied…
Q3 Earnings Season Below Average
September Existing Home Sales September existing home sales report was disappointing like housing starts. It’s not disappointing enough to end the positive housing trend, but it is slightly disconcerting. As you can see from the chart below, existing home sales fell from 5.5 million to 5.38 million. It missed the consensus for 5.44 million. It…
Evaluating Earnings Butterfly's
Earnings season is upon us! We kick off with some big name companies reporting after the close like Tesla (TSLA), Microsoft (MSFT), and Paypal (PYPL). Watch this video newsletter to find out the exact trades Don entered to potentially profit from a post earnings announcement move in these stocks...
Chipotle, Snap, And McDonald’s Earnings Reviews
Another Failed Breakout Attempt Stocks were up slightly during the morning and afternoon, but fell in the last 100 minutes of the trading session. S&P 500 wasn’t on the verge of new record high, but it would have been very close. Instead, because of the selloff the S&P 500 fell 0.36%. One of the blames…