ECONOMIC EVENTS & NEWS
NEWS!

Stocks were down amid weakness in Materials, Energy and Crude Oil.  July CPI below expectations.  FOMC comes off as dovish, and the Dollar slides in response.

Link to this news click here

Google up 0.7% on relative strength. Utilities lead the sectors for the Bulls. Energy lead for the bears.

S&P 500 stuck in a long-term range. Stocks have been flat for most of 2015.

Fedwatch link for rate hike predictions= Sept. 55%
Option volatility VIX spikes to 15.66.

This week to watch on economic calendar:

Thursday = Jobless claims and the Philly Fed Business Outlook.
Friday – PMI Manufacturing

 

MARKETS
(click on symbol for chart)
SPX –  Bear
DOW–  Bear
Nasd –  Bear
Russ –  Bear

VIX –  15.66

 

SECTORS – trend on daily chart (click symbol for chart)

Materials (XLB) – Bear
Energy (XLE) –    Bear
Financials (XLF) – Bear
Industrials (XLI) – Bear
Technology (XLK) – Bear
Staples (XLP) –   Bull
Utilities (XLU) –  Bull
Healthcare (XLV) –  Bear
Discretionary (XLY) –  Bear
Mining (XME) –    Bear
Real Estate (IYR) –  Bull 
Retail (RTH) –    Neutral
Transports (IYT) – Neutral

Oil (USO) – Bear
Ag (DBA) – Bear
GLD –   Bull
SLV –    Bull

WORLD WATCH
VEU – world markets – USA companies – BEAR
EEM – global emerging markets- BEAR big time

THE DOLLAR
UUP – USD weighted ETF – Bearish

COACHES TRADING THOUGHTS

 

Bearish action in Stocks, Commodities, and Currency today. Not a lot of carry through after the initial selling. Watch for the range to hold and support to play a role on the neutral sectors and Indices soon. A break on the S&P500 would be a strong sell signal on stock prices in general. Oil was a major player today, selling sharply. Gold continues to be a short term safety net and rallied on the news.

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