Friday, 17 Apr 2015 - AMC

Dow -279.47 at 17826.30, Nasdaq -75.98 at 4931.81, S&P -23.81 at 2081.18

Market is still lacking the leadership that results in the sideway trend we are seeing now. I don't see any reason for the market to rally and maybe a correction is more appropriate. Better than expected earnings reports are what I see that is pushing the market higher. Oil prices is still in a rally and it is looking to hit $60 mark soon. It seems that the production level is not going to reach any point higher anymore. On the contrary the Dollar Index has been going a downtrend as macroeconomic data released were not up to expectation.

Direction for Friday 17 Apr, 2015; Down

There was no breakout as market was unable to break above its resistance level. Market tanked with profit taking at the start of the session and remained flat after. It looks like the market should get a real correction with uncertainly in Greece with the government getting closer to default as they are unable to pay back their debt loans. Friday was definitely a cautious session as I saw more defensive play.                        

Market Summary

Industry Watch

Strong: Utilities

Weak: Consumer Discretionary, Energy, Financials, Technology

Other Market Moving Factor:

• S&P 500 drops below 50-day moving average (2,085)
• Dollar Index looks to snap three-day skid
• S&P 500 +0.1% week-to-date, entering today

[BRIEFING.COM] The major averages ended Friday with a broad-based retreat that caused the market to turn negative for the week. The S&P 500 lost 1.1%, ending the week lower by 1.0%, while the Russell 2000 (-1.6%) underperformed today, but ended the week in-line with the benchmark index. 

For background on today's retreat, we must start with the overnight session when a widespread outage took all Bloomberg terminals offline, which prevented large investors around the globe from communicating with their peers. The outage was followed by a plunge in Hang Seng and China-linked futures after China Regulatory Commission announced plans to ban margin financing for over-the-counter trades while also increasing the number of stocks eligible for short selling to 1,100. 

In all likelihood, participants saw the big slide in Asia with little news to account for the move at that time and responded by reducing their risk exposure. Interestingly, S&P futures hit their overnight low around the time when access to Bloomberg terminals was restored and large investors could communicate with others once again. 

That being said, the cautious posture persisted through the European session with Greece-related concerns keeping investors on the defensive. To that point, overseas units of Greek banks have been asked to divest their Greek sovereign debt holdings to avoid contagion in the event of a default. The request was reportedly issued by various central banks with backing from the European Central Bank. As a result, investors showed increased demand for German bunds with the 10-yr yield ticking down to 0.08% after dropping as low as 0.05%. 

Meanwhile, U.S. Treasuries endured a volatile session. The 10-yr note rallied overnight, but that was followed by a morning retreat, which was followed by an intraday climb to a fresh high, dropping the benchmark yield three points to 1.86%. 

As for stocks, the S&P 500 dropped below its 50-day moving average (2,085) during late-morning action and distanced itself from that level into the afternoon. Taking a look at the bigger picture, this week's retreat placed the benchmark index smack dab in the middle of a range (2,040-2,120) that has held since early February even though earnings estimates for Q1 have been reduced during that stretch. 

Speaking of earnings, most of the reports released since yesterday's closing bell surpassed bottom-line estimates, but revenue growth and guidance left a lot to be desired. General Electric (GE 27.25, -0.03) was a good example as the industrial conglomerate reported what has become a customary one-cent beat while revenue fell 3.1% year-over-year. Similarly, Honeywell (HON 101.70, -2.22) reported a bottom-line beat, but lower guidance and below-consensus revenue sent the stock lower by 2.1%. 

Moving to other cyclical sectors, financials (-1.3%) finished near the bottom of the barrel with American Express (AXP 77.32, -3.59) contributing to the relative weakness. The Dow component lost 4.4% after its earnings beat was overshadowed by light revenue. 

Elsewhere, the consumer discretionary sector (-1.5%) also finished among the laggards with media names extending their losses during the afternoon after Bloomberg reported that federal regulators are leaning in favor of opposing the proposed merger between Time Warner Cable (TWC 149.61, -8.59) and Comcast (CMCSA 58.42, -1.25). The two names ended lower by 5.4% and 2.1%, respectively. On the flip side, toymaker Mattel (MAT 26.74, +1.48) escaped the broad pressure, climbing 5.8% after reporting better than expected results. 

All in all, the six cyclical sectors lost between 0.8% and 1.5% while the countercyclical side was treated to a lighter shade of red with the four defensively-oriented groups falling between 0.3% and 0.9%. 

Today's trading volume surpassed recent averages thanks to a boost from options expiration with more than 865 million shares changing hands at the NYSE floor. 

Economic data included CPI, Leading Indicators, and Michigan Sentiment: 

• Consumer prices increased 0.2% for a second consecutive month in March while the Briefing.com consensus expected an increase of 0.3% 
  • Energy prices rose 1.1% in March after increasing 1.0% in February 
    • Gasoline prices, one of the main drivers of the increase in energy costs, rose 3.9% in March after increasing 2.4% in February 
  • Food prices declined 0.2% in March after increasing 0.2% in February 
  • Excluding food and energy, core CPI increased 0.2% for a third consecutive month in March while the consensus expected an increase of 0.1% 
• The Conference Board's Leading Economic Index increased 0.2% in March after increasing a downwardly revised 0.1% (from 0.2%) in February while the Briefing.com consensus expected an increase of 0.3%. 
• The University of Michigan Consumer Sentiment Index increased to 95.9 in the preliminary April reading from 93.0 in March while the Briefing.com consensus expected an increase to 94.0 
  • Consumer sentiment recovered the entire decline from February (95.4) despite relatively higher gasoline costs and a significant weakening in the latest payrolls data. 
  • The Current Conditions Index increased to 108.2 in April from 105.0 in March. The Expectations Index increased to 88.0 from 85.3. 

Monday's session will be free of economic data. 

• Nasdaq Composite +4.1% YTD 
• Russell 2000 +4.0% YTD 
• S&P 500 +1.1% YTD 
• Dow Jones Industrial Average UNCH YTD 

Week in Review: S&P 500 Maintains Narrow Range 

The major averages began the week on a lower note. The S&P 500 surrendered 0.5% after spending the day in a steady retreat from its opening high while the Nasdaq Composite shed 0.2% after showing relative strength throughout the day. All in all, the Monday session was very quiet with the S&P 500 spending the day inside a 15-point range. The S&P 500 appeared to be on track for its fourth consecutive advance, but the index hit resistance during the opening hour and retreated into the afternoon. A handful of heavily-weighted sectors displayed early strength, but the financial sector (+0.3%) was the only group left in the green when the session ended. 

Equity indices ended Tuesday on a mixed note after spending the day near their flat lines. The S&P 500 added 0.2% while the Nasdaq settled lower by 0.2%. The market slipped during the opening hour after the March Retail Sales report (+0.9%; Briefing.com consensus +1.0%) came in below expectations, but the S&P 500 found support just above its 50-day moving average (2,081) and made a swift return into the green. The index received significant support from the energy sector (+1.8%), which ended well ahead of other groups. Crude oil contributed to the considerable strength, climbing 2.7% to $53.31/bbl. 

The stock market ended the midweek session on an upbeat note after climbing throughout the day. The S&P 500 gained 0.5% while the Russell 2000 (+0.7%) spent the day in the lead. The market rallied out of the gate, all but ignoring news that China's GDP growth (+7.0% year-over-year) has slowed to a six-year low. The news was followed by a small uptick in the greenback, but the Dollar Index (98.36, -0.37) surrendered its overnight advance, posting its second consecutive decline. In turn, the dollar weakness provided a measure of support to crude oil, helping the energy component jump 5.6% to $56.25/bbl. Understandably, the big spike in oil boosted the energy sector (+2.3%), placing the cyclical group in the lead. Thanks to the gain, the energy space extended its April gain to 6.8%. Meanwhile, the remaining cyclical groups settled a bit closer to the broader market. Technology (+0.9%) endured a slight struggle early, but the sector ended among the leaders with help from chipmakers after Linear Technology (LLTC) reported better than expected results and Intel (INTC) delivered an in-line report. The two names spiked 1.6% and 4.3%, respectively, while the PHLX Semiconductor Index gained 1.6%. 

Thursday ended on a modestly lower note, but the key indices were able to climb off their opening lows. The S&P 500 shed 0.1% after spending the day in a 12-point range. Stocks struggled in the early going after an overnight report from the Financial Times indicated that Greek officials have asked the International Monetary Fund to reschedule debt repayments that will be due in May. The report was denied by Greek Finance Minister Yanis Varoufakis, but European investors displayed caution, which contributed to the lower start in the U.S. However, a batch of better than expected earnings in the U.S. offset the Greece-related news. The S&P 500 ranged near its low during the opening hour and climbed into the afternoon. The index spent about an hour in the green, but slipped back into the red before the close.

DOW

NASDAQ 

S&P

Global Market

ASIA

Asian Markets Close: Japan’s Nikkei -1.2%; Hong Kong’s Hang Seng -0.3%; China’s Shanghai Composite +2.2%
It was a weak showing for most markets in the Asia-Pacific region on Friday, with the notable exception of one market. China’s Shanghai Composite bucked the regional trend and increased another 2.2%. For the week, the Shanghai Composite was up 6.3% with policy stimulus speculation feeding the move.

Economic data

• Japan
• March Household Confidence 41.7 (expected 41.4; prior 40.9)
• Singapore
• March Trade Balance SGD 8.63 bln (expected SGD 5.63 bln; prior SGD 5.18 bln)
• Non-Oil Exports +23.0% month-over-month (expected 3.5%; prior -9.4%); +18.5% year-over-year (expected -0.7%; prior -9.7%)

Equity Markets

• Japan’s Nikkei declined 1.2% and closed near its low for the day in what was a steady and broad-based sell-off. The consumer non-cyclical (-1.3%), industrial (-1.2%), and consumer cyclical (-1.1%) sectors paced the retreat. Isetan Mitsukoshi Holdings (-9.2%), Alps Electric Co (-6.1%), J Front Retailing (-5.9%), Sharp Corp (-5.8%, and Taiyo Yuden (-5.7%) were the biggest decliners. Out of the 225 index members, 72 ended higher, 145 finished lower, and 8 were unchanged. For the week, the Nikkei was down 1.3%.
• Hong Kong’s Hang Seng sported modest gains for most of the session, but coughed them up in a late-day slide that left it down 0.3% for the session. The basic materials (-1.3%) and utilities (-1.3%) sectors were the weakest areas and the influential financial sector fell 0.2%. Bank of China (-2.5%), China Construction Bank (-2.4%), and China Resources Power Holdings (-2.4%) topped the list of decliners while China Overseas Land & Investment (+2.7%), AIA Group (+2.2%), and China Mobile (+2.1%) led advancing issues. Out of the 50 index members, 17 ended higher, 29 finished lower, and 4 were unchanged. For the week, the Hang Seng was up 1.4%.
• China’s Shanghai Composite increased another 2.2%, paced by a strong showing from the energy (+4.5%) and industrial (+3.0%) sectors. Real estate development company Beijing North Star (+10.1%), train maker China CNR Corp (+10.0%), and shipbuilding company China Shipbuilding Industry (+10.0%) were among the stocks that increased by the daily maximum allowable. For the week, the Shanghai Composite increased 6.3%.
• India’s Sensex declined 0.8% and ended near its lows for the session. Losses in the communications (-2.9%), technology (-2.6%), consumer non-cyclical (-1.1%), and financial (-0.9%) sectors weighed on the proceedings. Sun Pharmaceutical (-4.6%), Tata Consultancy Services (-4.2%), and Axis Bank (-3.1%) were the biggest individual decliners while Sesa Sterlite (+3.5%), Tata Steel (+2.5%), and Hindalco Industries (+1.9%) topped the list of winners. For the week, the Sensex was down 1.5%.
• Australia’s S&P/ASX 200 declined 1.2% and also finished near its low for the day. The gold (-2.0%), REIT (-1.9%), and consumer discretionary (-1.6%) sectors were the weakest areas in Friday’s trading. For the week, the S&P/ASX 200 declined 1.5%.
• Regional advancers: South Korea +0.2%, Vietnam +0.01%
• Regional decliners: Taiwan -0.9%, Singapore -0.2%, Malaysia -0.1%, Thailand -0.2%, Indonesia -0.2%, Philippines -0.02%

FX

• USD/CNY unch at 6.1966
• USD/INR +0.02% at 62.346
• USD/JPY -0.3% at 118.66

EUROPE

Major European indices trade lower across the board with Germany’s DAX (-2.0%) showing the largest decline. Overseas units of Greek banks have been asked to divest their Greek sovereign debt holdings to avoid contagion in the event of a default in Greece. The request was reportedly issued by various central banks with backing from the European Central Bank.

• Eurozone March CPI +1.1% month-over-month; -0.1% year-over-year. Both figures matched expectations. Core CPI +0.6% year-over-year, as expected. Separately, Current Account surplus narrowed to EUR26.40 billion from EUR30.40 billion (expected surplus of EUR29.40 billion)
• UK’s February Average Earnings Index + Bonus +1.7% (expected 1.8%; prior 1.9%) while Claimant Count fell 20,700 (expected -29,500; prior -29,100)
• Swiss Retail Sales -2.7% year-over-year (consensus 0.7%; last -0.3%)

Closing Prices

• UK’s FTSE: -0.9%
• Germany’s DAX: -2.6%
• France’s CAC: -1.6%
• Spain’s IBEX: -2.2%
• Portugal’s PSI: -2.3%
• Italy’s MIB Index: -2.4%
• Irish Ovrl Index: -1.3%
• Greece ASE General Index: -3.0%

Macroeconomic Data

Economic Data

from Briefing.com

• CPI : 0.2% vs 0.3% (Prior 0.2%)
• Core CPI : 0.2% vs 0.1% (Prior 0.2%)
• Mich Sentiment : 95.9 vs 94.0 (Prior 93.0)
• Leading Indicators : 0.2% vs 0.3% (Prior 0.2%)

CPI

Highlights

• Consumer prices increased 0.2% for a second consecutive month in March. The Briefing.com Consensus expected the CPI to increase 0.3%.
• Excluding food and energy, core CPI increased 0.2% for a third consecutive month in March. The consensus expected core CPI to increase 0.1%.

Key Factors

• Energy prices rose 1.1% in March after increasing 1.0% in February. Gasoline prices, one of the main drivers of the increase in energy costs, rose 3.9% in March after increasing 2.4% in February.
• Food prices declined 0.2% in March after increasing 0.2% in February.
• Most of the gain in core prices was the result of a 0.3% increase in shelter prices. Medical care services, which posted its first decline (-0.4%) since November 1975 in February, increased 0.4% in March.
• A lack of price pressures in the producer pipeline and weak income growth should keep core prices from accelerating above their current trend.
• Year-over-year, core CPI increased 1.8% in March, up slightly from a 1.7% y/y gain in February. Despite the slight acceleration in core CPI, inflation growth remains well below the Fed’s implied CPI target of 2.5%.

Big Picture

• CPI growth trends are well below the Fed's target level, and there are very few underlying pressures that would cause these trends to suddenly change.

MICHIGAN SENTIMENT

Highlights

• The University of Michigan Consumer Sentiment Index increased to 95.9 in the preliminary April reading from 93.0 in March. The Briefing.com Consensus expected the Consumer Sentiment Index to increase to 94.0.

Key Factors

• Consumer sentiment recovered all of the March decline from February (95.4) despite relatively higher gasoline costs and a significant weakening in the latest payrolls data.
• The Current Conditions Index increased to 108.2 in April from 105.0 in March. The Expectations Index increased to 88.0 from 85.3.
• The improvement in sentiment does not necessarily foreshadow upcoming changes to consumption trends. Consumption follows income growth. An acceleration in income is far more likely to bring about an acceleration in consumption than an improvement in sentiment.

Big Picture

• Consumer sentiment has little influence on consumption. As long as payroll levels continue to expand, the resulting income growth should keep consumption gains steady regardless of the monthly ebbs and flows in sentiment.

LEADING INDICATORS

Highlights

• The Conference Board's Leading Economic Index increased 0.2% in March after increasing a downwardly revised 0.1% (from 0.2%) in February. The Briefing.com Consensus expected the index to increase 0.3%.

Key Factors

• Since 8 of the 10 components of the index are known prior to the release, the difference between the actual and consensus forecast is generally small.
• In this case, the building permits data were released after the consensus made its leading indicators forecast. The downside miss to building permits also caused a downside miss to the leading indicators.
• According to the details within the leading indicators, the Conference Board is expecting the March durable goods data to show a positive rebound in orders of nondefense capital goods excluding aircraft.

Big Picture

• The Leading Economic Index maintains steady growth.

Market Internals

NYSE:

Higher Volumes than the day before – 772.0M vs 755.3M 


Decliners outpaced Advancers (adv/dec): 603 / 2462

New Highs outpaced New Lows (highs/lows): 24 / 16

NASDAQ:

Higher Volumes than the day before – 1953.9M vs 1658.6M

Decliners outpaced Advancers (adv/dec): 613 / 2168

New Lows outpaced New Highs (highs/lows): 42 / 47

VOLATILITY S&P500 (VIX)
13.89 +1.29 (+10.24%)

Internals are certainly on the bearish side as Decliners outpaced Advancers. Volume is supporting the bearishness despite it was an expiration day. VIX gap up and clearly reflect the dissipate in confidence. I guess it is quite obvious where the market will head in the short term.         

Technical Updates

DOW JONES INDUSTRIAL AVERAGE ($INDU: CBOT)

17,826.30 -279.47 (-1.54%)

Volume: 138,864,067 (above average of 99,298,409)
Range: 17,748.53 - 18,102.56

NASDAQ COMPOSITE INDEX ($COMPQ.IDX: NASDAQ)

4,931.82 -75.98 (-1.52%)
Volume: 505,999,342 (above average of 438,885,747)

Range: 4,912.33 - 4,974.09

S&P 500 INDEX (SPX: CBOE)

2,081.18 -23.81 (-1.13%)

Volume: 661,794,000 (above average of 540,191,708)

Range: 2,072.37 - 2,102.58 

Looking at the technicals, we are having a reversal. MACD is showing the lack in bullish momentum too. However the market is sitting on the support level so maybe we might see some fightback but I feel a correction is still imminent.       

Commodities

Closing Commodities: WTI Oil Closes Below $56/Barrel

• WTI oil futures retreated some today, ultimately losing 2% to $55.71/barrel
• May nat gas fell $0.05 to $2.63/MMBtu
• The dollar index was back near the unchanged mark this afternoon, which left precious metals mixed
• June gold gained $4.90 to $1203.10/oz, while May silver fell $0.08 to $16.22/oz

Energy

• May crude oil futures fell $1.00/barrel (-1.8%) to $55.71/barrel
• May natural gas fell $0.05 to $2.63/MMBtu
• RBOB Gasoline closed $0.01 lower at $1.93/gallon
• Heating oil closed $0.03 lower at $1.88/gallon

Highlights:

• Crude Oil: Baker Hughes data released today showed a decline in U.S. rig counts by 34 to 954 (26 oil and 8 natural gas)
• The total decline from peak oil rig count in early October, now stands at ~(54.4%), or (875 rigs) to the present count of 734.

Agriculture

• May corn closed $0.03 higher at $3.80/bushel
• May wheat closed $0.02 lower at $4.93/bushel
• May soybeans closed $0.03 higher at $9.68/bushel
• Ethanol closed $0.02 higher at $1.61/gallon
• Sugar #11 closed 0.19 cents lower (-1.4%) at 13.24 cents/lb

Metals

• June gold ended today’s session $4.90 higher at $1203.10/oz
• May silver closed $0.08 lower at $16.22/oz
• May copper closed $0.01 higher at $2.78/lb

Currencies

Majors Remain Little Changed

• For all of the selling and equities and buying in long-dated government bonds, currency markets were relatively inactive today
• The U.S. Dollar Index rose 0.13% to 97.54 after better-than-expected March CPI data helped it recover overnight losses
• EUR/USD rallied 0.18% to 1.0789 despite serious concerns over Greek exit from the eurozone
  • Eurozone CPI and core CPI came out in line with estimates at -0.1% y/y and 0.6% y/y, respectively
• USD/CAD rallied 0.43% to 1.2250
  • Canadian core CPI beat expectations rising 0.6% m/m in March
  • Canadian retail sales beat expectations, rising 2.0% m/m in February versus a 1.5% decline in January
• GBP/USD  rallied 0.22% to $1.4967
  • The average earnings index missed estimates, rising only 1.7% in February
  • The unemployment rate fell to a post-crisis low at 5.6%
• USD/JPY traded slightly lower, falling 0.18% to 118.78

Bonds

Yield Curve Flattens on Flight to Quality

• The long end of the curve ripped higher today as global equities broke lower
• Yield check:
  • 2-yr: unch at 0.50%
  • 5-yr: -1 bp to 1.29%
  • 10-yr: -3 bps to 1.85%
  • 30-yr: -7 bps to 2.51%

• News:
  • Consumer prices increased 0.2% for a second consecutive month in March. The Briefing.com Consensus expected the CPI to increase 0.3%
  • Excluding food and energy, core CPI increased 0.2% for a third consecutive month in March. The consensus expected core CPI to increase 0.1%
    • According to Briefing.com chief economist, Jeffrey Rosen, "A lack of price pressures in the producer pipeline and weak income growth should keep core prices from accelerating above their current trend"
  • Leading Economic Indicators for March rose 0.2% versus the Briefing.com consensus of 0.3%
  • The University of Michigan Consumer Sentiment Index increased to 95.9 in the preliminary April reading from 93.0 in March. The Briefing.com Consensus expected the Consumer Sentiment Index to increase to 94.0
    • The Current Conditions Index increased to 108.2 in April from 105.0 in March. The Expectations Index increased to 88.0 from 85.3

• Commodities:
  • WTI Crude: -1.38% to $55.93/bbl
  • Gold: +0.53% to $1204.30/troy oz.
  • Copper: +0.65% to $2.792/lb.

• Currencies:
  • EUR/USD: +0.38% to 1.0811
  • USD/JPY: -0.17% to 118.78

• Week Ahead:
  • Monday: No market-moving events scheduled
  • Tuesday: No market-moving events scheduled
  • Wednesday: MBA Mortgage Index for the week ending 4/18 (07:00 ET); February FHFA Housing Price Index (09:00 ET); March Existing Home Sales (10:00 ET); Crude Inventories for the week ending 4/18 (10:30 ET)
  • Thursday: Initial and Continuing Jobless Claims for the weeks of 4/18 and 4/11, respectively (08:30 ET); March New Home Sales (10:00 ET); Natural Gas Inventories for the week ending 4/18 (10:30 ET): $18 billion 5-Year TIPS Auction (Results at 13:00 ET)
  • Friday: March Durable Goods Orders and Durable Goods Orders ex Transportation (08:30 ET)

Treasury Yields:

• 2 Year Note 0.51% +0.01
• 5 Year Note 1.31% UNCH
• 10 Year Note 1.87% -0.03
• 30 Year Bond 2.51% -0.05

2/30 Spread: 200 bps ( -6 ) …  2/10 Spread: 136 bps ( -4 )

Preview for the week Monday 20 Apr to Friday 24 Apr, 2015

Economic Data

Monday (20 Apr) :

• No Economic Data

Tuesday (21 Apr) :

• No Economic Data

Wednesday (22 Apr) :

• MBA Mortgage Index : (Prior -2.3%) 
• FHFA Housing Price Index : (Prior 0.3%)
• Existing Home Sales : 5.07M (Prior 4.88M)
• Crude Inventories : (Prior 1.294M)

Thursday (23 Apr) :

• Initial Claims : 288K (Prior 294K)
• Continuing Claims : 2380K (Prior 2268K)
• New Home Sales : 517K (Prior 539K)
• Natural Gas Inventories : (Prior 63 bcf)

Friday (24 Apr) :

• Durable Orders : 0.5% (Prior -1.4%)
• Durable Orders ex-transportation : 0.5% (Prior -0.6%)

Earnings Highlights

Monday (20 Apr) :
BMO - BOH CHKP CBU HAL HAS KNL LII MTB MS RCL STI
During Mkt Hours - CCNE
AMC - BMI BXS BBCN BRO CNI ELS FTNT GLF HSTM HLX HXL IBM IEX LRCX MBFI PKG PWRD PNFP RMBS RLI RCI SANM SHBI STLD UCTT WAL WIBC WWD ZION

Tuesday (21 Apr) :
BMO - ATI ACI ARMH AG ASTE BHI EAT CP CLS CS DOV DD FITB GCI GPC HOG ITW JAKK KSU KMB LPT LECO LMT MAN MLNX MTG MLI EDU NTRS NVR OMC PCAR PNR PLD RF STBA SAP SBNY SAH SNV TCB AMTD TTS TRV UA UTX VZ WIT
AMC - ACE ADTN AMGN BRCMCAMP CMG CREE CUBI DFS DLB DRWI EWBC FMBI FTI FWRD FULT HTS ILMN INFN IBKR ISRG IRBT LTXB MANH MSA NBR NAVI PFPT OKSB SYK SMCI URI VASC VMW YHOO YUM ZIXI

Wednesday (22 Apr) :
BMO - ABT APH ANGI ALV AN AZZ BK BA CFG KO DHI EMC EVR GNTX HERO HBAN KNX KFX LAD MKTX MCD BABY NLSN NOR NS OC PCH R SEIC SIX SONS STJ TROW TEL TDY TMO TUP UCBI WAB WERN
During Mkt Hours - CFNL
AMC - ALGT AFOP AWH AMP AHL AIZ AF T BDN BRKL CATY CAKE CTXS CLW CNMD CLB CLGX CVA CCI CUB CVBF CYS EGBN EBAY EFX EXPO FFIV FB DAVE FOE FTK GGG HNI HMN IBKC IGT LVS LHO LOGI MKSI MPWR NEU NFBK OII ORLY ORRF PLXS PLCM QCOM RJF SLM SGMO SCSS SKX SLG SUSQ TCBI TXN TMK TSCO TYL USTR VMI WFT WSTC XLNX

Thursday (23 Apr) :
BMO - MMM ABBV ADPT ALK ALXN ASPS MO AMAG AEP AVT BKU BAX BBT BEAV BMS BHE BNCL BCC CAB CAM CSL CAT CLFD CMS CFX COR DAN DHR DLX DPZ DOW DPS DNKN LLY EQT EQM FNB FAF FCX GMT GM GPK HP HSY HUB.B IR IQNT IVC JNS JAH JCI KKR LAZ LTM ERIC MHO CLI HZO MJN MDSO MDP VIVO MTH NDAQ NWE NVS NUE OCN ORI OSTK PSTB PTEN BTU PENN PEP PNK PJC PII POOL PG PRLB PHM DGX RTN RS COL RTIX SFE SQNS SIAL SNA LUV SWK STC SUI SXC SYNT TBI UTEK UNP UAL UTL USG GRA WBC WCC WHR WNS
During Mkt Hours - GRC HTLD
AMC - ABAX ACTG ALGN ALTR AMZN BGS BAS BJRI HAWK BLDR BCR ELY COF CBI CPHD CB CYN CVTI DV DGII ETFC ECHO EFII WIRE ETH FCB FII FICO FBP FR FLS FET FSL GIMO GOOG GHL HBHC HBI HGR HA HWAY AWAY HUBG INFA JNPR KLAC KN LSTR MKTO MTSN MXIM MXWL MDCA MMSI MCRL MSCC MSFTMTX NBHC N NTGR NEM OLN P PCTI PDFS PEB PGI PFG QLIK QDEL RGA RSG RMD RHI SBAC SHOR SSD SWN SPNC SPSC SFG SBUX SRCL SPWR SIVB SYA SYNA TFSL TRN UIS UHS VRSN VCRA WRE WSFS

Friday (24 Apr) : 
BMO - AAN AAL AJG AZN AVX B BIIB BGG COG DTE EHTH FNFG FLIR IMGN IMS INFY IPG LEA LYB MOG.A NPBC OFB PB PFS SPG STT SHOO TYC VTR XRX
AMC - None Scheduled

Summary

I feel Monday is more to a make or break session. We may see some short covering or a slight rebound from the market. But if the market continues to break lower the support level, I reckon there will be more selloff next week. At this point in time, my view on the technicals is that market is still in a sideway trend as there is no clear leadership yet still. Given so I don't feel much optimism for the market to go higher since the US economy is rather weak. Do watch out on Greece also.

Direction for Monday 20 Apr, 2015; Up

Direction for the week Monday 20 Apr to Friday 24 Apr, 2015; Down

2015 Daily Directional Accuracy: 27/54 (50.00%) 
2015 Weekly Directional Accuracy: 8/13 (61.54%)