Friday, 16 Oct 2015 - AMC

Dow +74.22 at 17215.97, Nasdaq +16.59 at 4886.69, S&P +9.24 at 2033.10

Market started off in a flattish manner and there was a slight profit taking in the afternoon. It looks to me that there is still optimism in the market as Friday ended the session with a strong buying.

Europe and Asia markets were all showing positive gains. Somehow global market is generally bullish right now.
  

Market Summary

Industry Watch

Strong: Consumer Staples, Financials, Health Care, Utilities

Weak: Energy, Industrials, Materials, Technology

Other Market Moving Factor:

• S&P 500 enters Friday session +0.5% week-to-date

[BRIEFING.COM] The stock market endured a sleepy Friday session that capped an upbeat week. The S&P 500 added 0.5%, extending its weekly gain to 0.9%, while the Nasdaq Composite (+0.3%) underperformed on Friday, but still ended the week higher by 1.2%. 

Overall, the Friday affair was pretty uneventful as the S&P 500 spent the bulk of the day in a ten-point range, climbing to a new high during the final hour. Four sectors settled ahead of the S&P 500 while the remaining six ended in-line with or behind the benchmark index. 

Consumer staples (+1.0%) and health care (+1.0%) settled in the lead with the health care space holding up well despite an intraday swoon in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 314.32, -0.44) shed 0.1% after being up 1.1% at the start of the trading day. For the week, the health care sector gained 1.9% while the biotech ETF also climbed 1.9%. 

Moving to the cyclical side, consumer discretionary (+0.6%) and financials (+0.4%) displayed relative strength since the opening bell while energy (+0.2%), industrials (-0.2%), materials (unch), and technology (+0.3%) spent the bulk of the session in the red. 

Interestingly, the energy sector faced a daylong struggle even though crude oil erased its early loss to end the day higher by 1.9% at $47.26/bbl. 

Elsewhere, the industrial sector (-0.2%) spent the day behind the remaining nine groups to widen its weekly decline to 1.2%. Top-weighted sector component General Electric (GE 28.98, +0.95) spiked 3.4% after reporting operating earnings of $0.32/share, which may not compare to estimates as the company continues divesting GE capital assets, but that strength could not offset broad weakness among transport stocks. The Dow Jones Transportation Average fell 1.6% with KC Southern (KSU 87.37, -10.63) diving 10.9% in reaction to disappointing quarterly results. 

Similar to stocks, Treasuries drifted inside narrow ranges, but unlike equities, the 10-yr note settled on its low with the benchmark yield rising two basis points to 2.03%. 

Despite the quiet intraday action, more than 900 million shares changed hands at the NYSE floor with options expiration boosting the final tally.

Economic data was limited to Industrial Production, Michigan Sentiment, and JOLTS: 

• Industrial production declined 0.2% in September after declining an upwardly revised 0.1% (from -0.4%) in August while the Briefing.com consensus expected a drop of 0.2% 
  • Manufacturing production declined for a second consecutive month and for a third time over the past four months. Production fell 0.1% in September after declining 0.4% in August 
  • The decline in manufacturing production was the result of a 0.1% decline in durable goods production. Despite lower output in the petroleum sector, nondurable goods production was flat in September 
• The University of Michigan Consumer Sentiment Index increased to 92.1 in the preliminary October reading from 87.2 in September while the Briefing.com consensus expected an increase to 88.4 
  • The Current Conditions Index increased to 106.7 in October from 101.2 in September while the Expectations Index increased to 82.7 from 78.2 
• The August Job Openings and Labor Turnover Survey showed that job openings decreased to 5.370 million from 5.668 million 

Monday's data will be limited to the 10:00 ET release of the NAHB Housing Market Index for October (Briefing.com consensus 62). 

• Nasdaq Composite +3.2% YTD 
• S&P 500 -1.3% YTD 
• Dow Jones Industrial Average -3.4% YTD 
• Russell 2000 -3.6% YTD 

Week in Review: Stimulus Chatter Picks Up

The stock market began the trading week on a sleepy note with a Monday session that saw the S&P 500 bounce around an eight-point range. The benchmark index settled higher by 0.1% while the Nasdaq Composite (+0.2%) outperformed slightly. With the bond market closed for Columbus Day, a fair share of participants elected to forego the Monday session. The subdued activity was highlighted by below-average trading volume as fewer than 700 million shares changed hands at the NYSE floor. Eight sectors finished the day with gains while commodity-sensitive energy (-1.1%) and materials (-0.9%) underperformed throughout the session. The energy sector finished at the bottom of the leaderboard, narrowing its October gain to 10.9% while crude oil surrendered 5.2% to settle at $47.19/bbl. 

The market ended Tuesday on a lower note after the major averages failed to hold their slim intraday gains. The S&P 500 settled lower by 0.7% while the Nasdaq Composite (-0.9%) underperformed. Overall, the Tuesday affair was relatively quiet with trading volume surpassing Monday's total by a relatively slim margin. To that point, fewer than 850 million shares changed hands at the NYSE floor. Equity indices faced some selling pressure after China's September trade balance ($60.34 billion; expected $46.79 billion) showed a 20.4% decline in imports (expected -15.0%), which was the 11th consecutive drop in that category, stirring up concerns about China's demand for goods and services from its neighbors. Accordingly, most Asian markets posted losses on Tuesday and the defensive sentiment infiltrated the European session. 

The major averages ended the midweek session on a lower note with the S&P 500 (-0.5%) registering its second consecutive decline. The benchmark index settled near its worst level of the day while the Nasdaq Composite (-0.3%) outperformed. Equities displayed modest gains in the early going, but relative weakness in several influential sectors prevented the S&P 500 from holding its early gain. The index made another brief appearance above its flat line during the early afternoon, but slid to lows before the closing bell. The reasons for the retreat were not particularly difficult to find as economic data reported in the morning disappointed while quarterly earnings received since Tuesday's closing bell did not inspire confidence either. Eight sectors registered losses with four falling 1.0% or more. The financial sector (-1.0%) settled among the laggards after showing relative weakness throughout the day. 

Equities charged higher on Thursday, erasing their entire decline from the early portion of the week. The S&P 500 spiked 1.5% while the Nasdaq Composite (+1.8%) outperformed. The broad-based rally in the U.S. followed an overnight session that featured dovish comments from two European Central Bank members, setting expectations for more monetary easing from the central bank. This started with Vitor Constancio who spoke in Hong Kong, joining the chorus of voices calling on the Federal Reserve to delay its first rate hike while Ewald Nowotny said that more needs to be done by the ECB in light of soft inflation data. The dovish remarks from two ECB policymakers weighed on the euro, sending the single currency lower by 0.8% against the dollar to 1.1383. To be fair, the Dollar Index (94.46, +0.47), which gained 0.5%, spiked to highs after the release of economic data, which included a 42-year low initial claims reading (255,000; Briefing.com consensus) and an in-line CPI report (+0.2%).

Global Market

ASIA
Most markets in the Asia-Pacific region closed the week out on a winning note, following Wall Street’s lead from Thursday and continuing to draw support from the speculation that central banks will soon be providing more stimulus. China’s Shanghai Composite (+1.6%) led the winners, rallying in front of a key batch of data, including its Q3 GDP report, which will be released Sunday evening at 10:00 p.m. ET.

Economic data

• New Zealand
• Q3 CPI +0.3% quarter-over-quarter (expected +0.2%; prior +0.4%); +0.4% year-over-year (expected +0.3%; prior +0.4%)
• Singapore
• September Non-Oil Exports +2.8% month-over-month (expected +0.8%; prior -4.6%); +0.3% year-over-year (expected -3.8%; prior -8.4%)

Equity Markets

• Japan’s Nikkei increased 1.1%, led by strong gains in the financial (+2.3%) sector. Tokyu Fudosan Holdings (+5.2%), Sumitomo Realty & Development (+4.1%), and T&D Holdings (+3.8%) topped the list of winners. Obayashi Cop (-3.1%), Haseko Corp (-2.8%), and Trend Micro (-2.3%) were the worst-performing issues. Out of the 225 index members, 188 ended higher, 33 finished lower, and 4 were unchanged. For the week, the Nikkei declined 0.8%.
• Hong Kong’s Hang Seng increased 0.8%, roughly in the middle of the day’s trading range. It had been up 1.3% shortly after the start of trading. AIA Group (+3.4%), Wharf Holdings (+2.9%), and Bank of Communications (+2.4%) led individual gainers while Galaxy Entertainment (-3.4%), China Resources power Holdings (-2.8%), and China Mengniu Dairy (-2.7%) brought up the rear. Out of the 50 index members, 34 ended higher and 16 finished lower. For the week, the Hang Seng increased 2.7%.
• China’s Shanghai Composite increased 1.6% with the bulk of that gain coming in an afternoon rally effort that left the market at its high for the session when trading ended. The late rally preceded a batch of important economic data that will be released Sunday night, namely Q3 GDP, industrial production, retail sales, and fixed asset investment. For the week, the Shanghai A Shares surged 6.5% while B shares jumped 8.7%.
• India’s Sensex increased 0.8%, aided by a spike in buying interest over the final two hours that brought it out of negative territory. The gains were driven by the industrials (+2.5%), financial (+1.4%), and consumer discretionary (+1.1%) sectors. The biggest gainers were Larsen & Toubro (+2.9%), State Bank of India (+2.4%), and Maruti Suzuki India (+1.7%). The biggest laggards were Lupin Ltd (-2.1%), Tata Steel (-0.9%), and Hindustan Unilever (-0.9%). Out of the 30 index members, 21 ended higher and 9 finished lower. For the week, the Sensex gained 0.5%.
• Australia’s S&P/ASX 200 increased 0.7%, bolstered by strength in the REIT (+2.0%), utilities (+1.3%), and financial (+1.1%) sectors. Out of the 200 index members, 138 ended higher, 48 finished lower, and 14 were unchanged. For the week, the S&P/ASX 200 declined 0.2%.
• Regional advancers: Taiwan +0.04%, Malaysia +0.2%, Indonesia +0.3%, Singapore +0.5%, Vietnam +0.1%, Philippines +0.2%
• Regional decliners: South Korea -0.2%, Thailand -0.4%

FX

• USD/CNY +0.1% at 6.3538
• USD/INR +0.04% at 64.8513
• USD/JPY +0.1% at 119.02

EUROPE
Major European indices trade modestly higher after the release of a CPI report, which did little to change the view that the European Central Bank will likely need to expand the size/scope of its quantitative easing program.

• Eurozone September CPI +0.2% month-over-month, as expected; -0.1% year-over-year, as expected. Separately, August Trade Surplus EUR11.20 billion (consensus EUR20.00 billion; prior EUR31.40 billion) and September Core CPI +0.9% year-over-year, as expected
• Italy’s August Trade Surplus narrowed to EUR1.85 billion from EUR8.07 billion (expected surplus of EUR4.23 billion)

Closing Prices

• UK’s FTSE: + 0.6%
• Germany’s DAX: + 0.4%
• France’s CAC: + 0.6%
• Spain’s IBEX: + 1.3%
• Portugal’s PSI: + 0.3%
• Italy’s MIB Index: + 0.5%
• Irish Ovrl Index: + 0.7%
• Greece ASE General Index: -1.2%

Macroeconomic Data

Economic Data

from Briefing.com

• Industrial Production : -0.2% vs -0.2% (Prior -0.1% - Up)
• Capacity Utilization : 77.5% vs 77.4% (Prior 77.8% - Up)
• JOLTS - Jobs Openings : 5.370M (Prior 5.668M - Down)
• Michigan Sentiment : 92.1 vs 88.5 (Prior 87.2)
• Net Long-Term TIC Flows : $20.4B (Prior $7.7B)

INDUSTRIAL PRODUCTION & CAPACITY UTILIZATION

Highlights

• Industrial production declined 0.2% in September after declining an upwardly revised 0.1% (from -0.4%) in August. The Briefing.com Consensus expected industrial production to decline 0.2%.

Key Factors

• Manufacturing production declined for a second consecutive month and for a third time over the past four months. Production fell 0.1% in September after declining 0.4% in August.
• The decline in manufacturing production was the result of a 0.1% decline in durable goods production. Despite lower output in the petroleum sector, nondurable goods production was flat in September.
• Motor vehicle manufacturing inched up 0.2% in September after a 5.4% decline in August. Motor vehicle assemblies dropped to 12.37 mln at a seasonally adjusted annualized rate (SAAR) from 12.42 mln SAAR. Assembly levels are still on the pullback after topping 13 mln SAAR in July. Auto assemblies fell to 4.12 mln SAAR from 4.19 mln SAAR in August. Truck assemblies were virtually unchanged at 8.2 mln SAAR.
• Mining production declined 2.0% in September after being flat in August. That was the first month-over-month decline since a 2.2% decline in May.
• Warmer-than-normal temperatures drove higher demand for air conditioning. As a result, utilities usage rose 1.3% for a second consecutive month in September.

Big Picture

• The combination of a strong dollar negatively impacting the manufacturing sector and low oil prices reducing mining output has caused total industrial production to decline in eight of the nine months of 2015.

MICHIGAN SENTIMENT

Highlights

• The University of Michigan Consumer Sentiment Index increased to 92.1 in the preliminary October reading from 87.2 in September. The Briefing.com Consensus expected the index to increase to 88.4.

Key Factors

• The Current Conditions Index increased to 106.7 in October from 101.2 in September. The Expectations Index increased to 82.7 from 78.2.
• A volatile stock market and sluggish job growth had very little impact on consumer sentiment in October. Instead, consumers focused their attention on further improvements in job market security and stability – as shown by the very low initial claims level – and low gasoline prices.
• The increase in sentiment does not necessarily mean consumption growth is poised to accelerate. Consumption relies on income. As long as income continues to trend higher, consumption growth should follow.

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.

Market Internals

NYSE:

Higher Volumes than the day before – 960.3M vs 886.7M 


Advancers outpaced Decliners (adv/dec): 1841 / 1230

New Highs outpaced New Lows (highs/lows): 59 / 22

NASDAQ:

Lower Volumes than the day before – 1843.8M vs 1888.0M

Decliners outpaced Advancers (adv/dec): 1360 / 1440

New Highs outpaced New Lows (highs/lows): 57 / 30

VOLATILITY S&P500 (VIX)
15.05 -1.00 (-6.23%)

Internals are looking more bullish than bearish. New Highs still comparatively higher than New Lows. VIX went under the 200MA and looking to break below the support at 15.00. This is going to be a crucial support. Market is definitely going to be more bullish if the support could not hold.

Technical Updates

DOW JONES INDUSTRIAL AVERAGE ($INDU: CBOT)

17,215.97 +74.22 (+0.43%)

Volume: 145,876,766 (above average of 115,221,010)
Range: 17,107.35 - 17,220.02

NASDAQ COMPOSITE INDEX ($COMPQ.IDX: NASDAQ)

4,886.69 +16.59 (+0.34%)
Volume: 494,940,385 (above average of 477,806,917)

Range: 4,851.29 - 4,886.96

S&P 500 INDEX (SPX: CBOE)

2,033.11 +9.25 (+0.46%)

Volume: 711,470,000 (above average of 644,962,209)

Range: 2,020.46 - 2,033.54

DOW formed a breakout as it broke above its resistance at 17,150. As volume is supporting the breakout, it seems we might see the market go higher from here. NASDAQ continue its rally as it approaches a resistance at 4,900. Even so, it is still under the September's high at around 4,960. Let's see if the rally can lead to a breakout. S&P also formed a breakout as it went above its previous high at 2,020 but there is going to be another resistance at around 2,040 to test the strength of breakout. Well market has been recovering very quickly and it looks we are having an all-clear sign.

Commodities

Closing Commodities: WTI Oil Prices Recover, Finish Near Today’s High

• WTI crude oil futures recovered today following the earlier sell-off
• Nov crude oil ended floor trading +2.1% at $47.31/barrel
• In other energy, Nov natural gas lost 1.2% to finish at $2.43/MMBtu
• Precious metals remained in the red today as strength in the dollar helped provide pressure
• Dec gold finished the day -0.4% at $1183.20/oz, while Dec silver fell -0.4% to $16.10/oz

Energy Closing Prices

• November crude oil futures rose $0.96 (+2.1%) to $47.31/barrel
• November natural gas closed $0.03 lower (-1.2%) at $2.43/MMBtu
• RBOB Gasoline closed flat at $1.31/gallon
• Heating oil futures closed $0.01 higher at $1.50/gallon

Agriculture Closing Prices

• December corn closed $0.01 higher at $3.77/bushel
• December wheat closed $0.09 lower at $4.94/bushel
• November soybeans closed $0.05 lower at $9.00/bushel
• Sugar #11 closed $0.14 cents higher at 14.27 cents/lb

Metals Closing Prices

• December gold ended today’s session $4.20 lower (-0.4%) at $1183.20/oz
• December silver closed today’s session $0.06 lower (-0.4%) at $16.10/oz
• December copper closed $0.02 lower (-0.8%) at $2.40/lb

Currencies

Currencies End the Week in a Tight Range: The Dollar Index has bounced around in the 94.50-94.70 area for the majority of the session. This range is likely to persist until Sunday evening when the market will be provided China data for GDP, Industrial Production, and Retail Sales. In the U.S. next week a speech by Fed Chair Janet Yellen (Tue) will be followed closely to see if she has changed her stance on a 2015 rate hike. Next week, housing data will be a focus with the forward looking PMI Manufacturing number due out on Friday.

• The euro is straddling the 1.1350 area today. The market is awaiting next week's ECB decision in which Mario Draghi is expected to announce an increase to the central banks bond purchase program. The single currency should remain in a tight trading range ahead of that event.
• The pound was unable to break above the 1.55 resistance level but has been able to hold the majority of its gains. Technical moving averages should dominate trade activity for cable next week with a speech from BoE Governor Carney (Tue) being a focus on the fundamental side.
• The yen's recent breakout may be failing here as the currency fell back from recent multi-week highs. 120 will remain a focus for investors over the next week if the pullback persists.

Bonds

Wait for It

• If you were looking for excitement on Friday, the Treasury market was not the place to find it.  The market meandered through the trading session with no real conviction and no convincing headline catalysts to get it going.  It was very much a wait-and-see trade in front of some key economic releases out of China over the weekend (Q3 GDP, industrial production, retail sales, and fixed asset investment), which could very well throw a curveball at the capital markets on Monday.  The only question is which market(s) will hit the economic pitch from China and which market(s) will strike out?  The uncertainty factor, then, kept traders in the on-deck circle during Friday's trade.
  
• Yield check:
  • 2-yr: unch at 0.60%
  • 5-yr: +1 bp at 1.34%
  • 10-yr: +1 bp at 2.03%
  • 30-yr: +1 bp at 2.87%
    
• Economic data out of the US caused a flutter at times but no real stir as it was a bit of a mixed bag of information
  • September industrial production declined 0.2%, as expected, following an upwardly revised 0.1% decline (from -0.4%) in August
    • Manufacturing output declined 0.1%, which was the third decline in the last four months
    • September capacity utilization dipped to 77.5% (Briefing.com consensus 77.4%) from an upwardly revised 77.8% (from 77.6%) in August
  • The October University of Michigan Consumer Sentiment report checked in at 92.1 (Briefing.com consensus 88.4) versus 87.2 in September, demonstrating that consumer attitudes were affected more by low gasoline prices and thoughts of job market security than they were by the volatility in the stock market
    • The Current Conditions Index increased to 106.7 from 101.2
    • The Expectations Index increased to 82.7 from 78.2
  • The August JOLTS - Job Openings report showed a decline in openings to 5.4 million from a series high of 5.7 million in July
    • The actual number of hires in August was 5.1 million, holding basically steady with the July reading
    • The quits rate (i.e. voluntary separation) was unchanged at 1.9% for the fifth consecutive month
      
• International affairs didn't provide much of an impetus for trading as the newsflow was light and markets continued to be governed by speculation that the People's Bank of China, Bank of Japan, and European Central Bank will soon provide additional policy stimulus
  
• Commodity price action was mixed.  Some of the weakness was attributed to a sense of caution ahead of China's economic releases over the weekend.  There was strength in crude oil, however, which enjoyed the news from Baker Hughes that the rig count declined by 7 to 787 in the latest week.
  • Crude settled +2.1% at $47.31/bbl
  • Gold settled -0.4% at $1183.20/troy oz.
  • Copper settled -0.8% at $2.40/lb
    
• The US Dollar Index flexed a little muscle, mostly at the expense of the yen.
  • USD/JPY +0.51 to 119.41
  • EUR/USD -0.0013 to 1.1370

The Week Ahead

• Monday, October 19- NAHB Housing Market Index (10am); Fed's Brainard speaks (10am); Fed's Lacker speaks (Noon).
• Tuesday, October 20- September Housing Starts & Building Permits (8:30am); Fed's Dudley speaks (9am); Fed's Powell speaks (9:15am); Fed's Yellen speaks (11am).
• Wednesday, October 21- MBA Mortgage Index (7am); Petroleum Inventories (10:30am).
• Thursday, October 22- Initial Claims (8:30am); August FHFA Housing Price Index (9am); September Existing Home Sales, September Leading Indicators (10am); Natural Gas Inventories (10:30am). 
• Friday, October 23- U.S. Markit Manufacturing PMI- Prelim (9:45am).

Treasury Yields:

• 2 Year Note 0.61% +0.04
• 5 Year Note 1.36% +0.07
• 10 Year Note 2.04% +0.05
• 30 Year Bond 2.87% +0.03

2/30 Spread: 226 bps ( -1 ) …  2/10 Spread: 143 bps ( +1 )

Preview for the week Monday 19 Oct to Friday 23 Oct, 2015

Economic Data

Monday (19 Oct) :

• NAHB Housing Market Index : 62 (Prior 62)

Tuesday (20 Oct) :

• Housing Starts : 1150K (Prior 1126K)
• Building Permits : 1170K (Prior 1170K)

Wednesday (21 Oct) :

• MBA Mortgage Index : (Prior -27.6%)
• Crude Inventories : (Prior 7.562M) 

Thursday (22 Oct) :

• Initial Claims : 265K
• Continuing Claims : 2185K
• FHFA Housing Price Index : (Prior 0.6%)
• Existing Home Sales : 5.38M (Prior 5.31M)
• Leading Indicators : -0.1% (Prior 0.1%)
• Natural Gas Inventories : (Prior 100 bcf)

Friday (23 Oct) : 

• No Economic Data

Earnings Highlights 

Monday (19 Oct) :

BMO - GPC HAL HAS LII MTB MRTN MS PETS VRX
AMC - BMI BXS BBCN BRO CE CCK ELS FLEX GIG HA HSTM HLX HXL IBM IEX RMBS RLI SIX SONC STLD WIBC ZION

Tuesday (20 Oct) :

BMO - ATI ASTE BK EAT CP DOV FITB FCFS HOG LMT EDU NVR OMC PNR PLD RF STBA SBNY SNV TTS TRV UTX VZ WWW
AMC - SHLM ACE CATY CLS CPHD CMG CB CREE DFS EFII ESND FMBI FTI FULT ILMN IBKR ISRG IRBT LTXB MANH NAVI PKG PNFP RNST OKSB TEX VASC VMW WERN WSBC YHOO ZIXI

Wednesday (21 Oct) :

BMO - ABB ABG ABT ANGI AOS APH ARMH BA BABY BHI BIIB BKU CS CSL EMC GLBL GM GNTX HLI IPG ITW KMB KNL KO LAD LL MAN MKTX NLSN NTRS NYCB OC PII SCL SEIC SLGN STJ SVU SYNT TMO TUP UNF WFT WIT WMS
During Mkt Hours - CNFL
AMC - ALGT AMP AWH AXP BDN BRCM BRKL BUFF CA CCI CLB CLGX CMRE CNMD CTXS CVBF CYS DLB DTLK EBAY EEFT EFX EGBN ELY EWBC EXPO FBHS FTK FWRD GGG GLF HNI IBKC IPCM KALU KMI KNX LOGI LRCX LVS MKSI MLNX MSA NCOM NOW PFPT PLCM RHI RJF SGMO SLG SLM SNDK SON SXT TBI TCBI TSCO TXN TYL UIS UMPQ URI VMI

Thursday (22 Oct) :

BMO - AB ACAT ACOR ADPT ADS AEP ALK APOL ASPS BCC BEN BHE BMS BNCL CAB CAM CAT CBU CHCO COR CRS CY DAN DGX DHR DLX DNKN DOWDPS DST EQM EQT FAF FCX FNB GMT GPK GRA HBAN HUB.B IIIN IVC JNS LAZ LLY LUV MCD MHO MINI MJN MMM MNRO NDAQ NUE NWE ORI OSIS OSTK PCP PDS PENN PH PHM PJC POOL PRLB PTEN QSR R RCI RS RTN SASR SIRI SJR SNA SQNS STC SWK TCB TCK TROW TZOO UA UAL UNP USG UTEK UTL WAB WBC WCC WRLD XRS
During Mkt Hours - HTLD
AMC - EGHT ACTG ALGN GOOG ALTR AMZN T ATHN BAS BJRI BYD BMTC BCR COF CBI CHE CYN CLNE CYT DECK DV ETFC WIRE FCB FII FFIN FFBC FTNT FET FSL GIMO GHL HBHC HURN IG JBSS JNPR KLAC LSTR LHO LOGM MKTO MXIM MMSI MSFT MTX NBHC NTGR N PACB P PEB PGI PFG QLIK QLGC QSII RMD SBCF SHBI SHOR SSD SKX SWN SPNC SPSC SFG SRCL SYK SMCI SIVB SYNA TRN UCTT UACL VRSN WRE

Friday (23 Oct) : 

BMO - AIMC AAL ALV B COG CFG DTE FNFG GRC LEA ERIC LYB OFG BPOP PGPB RCL SFE SHPG STT TEN TRI VFC VTR WHR
AMC - None

Summary

Market continues to rally after some profit taking at the start of the week. Judging from the strong buying before market closed on Friday, I reckon market is pretty much set up for another upside week ahead. In general, the bulls are coming into the market strongly. A good question would be how long can this rally be sustained?

We are seeing more earnings report next week instead of economic data. There are some reports releasing from the big caps which might affect the market as a whole. So have to watch out on it. Meanwhile the lack of economic data would mean traders will be looking more towards the performance of the earnings.

Direction for Monday 19 Oct, 2015: Up

Direction for the week Monday 19 Oct to Friday 23 Oct, 2015: Up

2015 Daily Directional Accuracy: 105/164  (64.02%) 

2015 Weekly Directional Accuracy: 24/38 (63.16%)