Market Direction:BULLISH alert
issued 2/15/2018
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Stock on the Radar (STAR)© is a service we provide. When there is a new stock recommendations for the week it is typically made available Sunday evening, so investors can prepare to take a position when the market opens Monday for trading. Our competitive advantage is price to give you greater success as beginning options traders.
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Last Week Review: Roughly 98% of the S&P 500 companies have released their Q1 earnings reports so far and an impressive 79% have beat analyst’s EPS estimates while 76% have beat on the top line.
U.S. equity markets were higher across the board early Friday morning on the heels of a better-than-expected Nonfarm payrolls report.
Stocks finished the week modestly higher after quickly recovering from a post-Memorial Day sell-off amid worries about Italian politics and the stability of the eurozone (see below). The small-cap Russell 2000 Index outperformed the broad market, reaching record highs, as did the tech-heavy Nasdaq Composite Index. On the negative side, the blue chip Dow Jones Industrial Average declined. Technology shares performed well, while financial stocks struggled as a sharp decrease in longer-term Treasury yields led to investor worries about bank profitability.
How the market finished last week, the S&P 500 up 0.5%, the Nasdaq up 1.6%, and the Dow down 0.5%.
This Week: Earnings and economic data overshadow this week’s Eurozone and trade war concerns. Recent bullish momentum appears likely to continue into next week.
Yields on Eurozone debt will likely be something that we need to monitor in the near-term, but the current set-up favors the bulls - the U.S. economic data continues to convey strength, there haven’t been any signs of overheating on the inflation front, and the technical set-up suggests continued upside moving into next week.
UK purchasing managers indexes (PMIs), a US ISM non-manufacturing PMI and a Reserve Bank of Australia (RBA) meeting dominate the week ahead, helping to counter a relatively dull corporate calendar.
With tariff wars, Deutsche Bank and Italy/Spain headlines dominating, there is a sense that the usual round of economic data will be something of a sideshow this week.
Economic Calendar: Factor Orders (6/4), ISM Services (6/5), JOLTS (6/5), Trade Balance (6/6), Wholesale Inventories (6/8)
Some of the major earnings announcements on deck: PANW, AMBA, FIVE, YY, COO.
$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, email us. Share with a friend. Cha-ching.
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