Monthly Lows in Focus on Yield Inversion Risk/ Profit Alert (T) 8:00am (EST) The market reversed course on Wednesday after giving back the prior session gains as another sharp drop in yields sent investors back to the sidelines. Specifically, the 2-year and 10-year spread inverted for the first time since 2007 with inversions traditionally seen […]
Author Archives: Rick Rouse
Before the open: Aircastle (AYR), Black Knight (BKI), Colfax (CFX), Dean Foods (DF), Discovery Communications (DISCA), Duke Energy (DUK), Energizer Holdings (ENR), GreenSky (GSKY), Henry Schein (HSIC), Intrepid Potash (IPI), Kamada (KMDA), LGI Homes (LGIH), Mosaic (MOS), Novanta (NOVT), Pitney Bowes (PBI), Ryman Hospitality Properties (RHP), SeaWorld Entertainment (SEAS), Shutterstock (SSTK), Tenneco (TEN), Unit (UNT), […]
The Industrials Select Sector Spider (XLI) fell for the 4th-straight session despite tapping an intraday low of $73.08. Mid-May and upper support at $73.50-$73 was triggered but held. A close below the latter and the 200-day moving average reopens risk towards $72-$71.50 with the beginning of June low at $71.91. Lowered resistance is at $74-$74.50. […]
The S&P 500 Volatility Index ($VIX) was up for the 5th time in 6 sessions after popping to an intraday high of 24.81. Early May and lower resistance at 22-22.50 was breached and failed to hold. A close above the 25 level and the would be an ongoing bearish signal with risk towards 26-27.50 and […]
The S&P 400 Mid Cap Index ($MID) has been in a 6-session trading range with Monday’s high reaching 1,908. Near-term and lower resistance at 1,900-1,925 was cleared and held with a close above the latter and the 50-day moving average being a more bullish signal for higher highs. Near-term support is at 1,875-1,850 and the […]
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The Russell 3000 Index ($RUA) had its 3-session winning streak snapped following the pullback to 1,682 into the closing bell. Upper support at 1,680-1,665 held on the close back below the 50-day moving average. A move below the latter opens up risk towards 1,650-1,635 and the 200-day moving average. Resistance is at 1,690-1,705 with last […]