8 Minute Read

Market Recap July 12, 2017

July 12, 2017

By | No Comments



SP 5002443.26+17.72(0.73%)
10-yr Note+13/322.318
NYSEAdv 2268Dec 690Vol 794.2 mln
NasdaqAdv 1849Dec 803Vol 1.8 bln




  • Market reaches new all-time highs.
  • Prepared remarks from Fed Chair Janet Yellen seen as relatively dovish.
  • Apple (AAPL) struggles amid rumors of a possible iPhone 8 delay; tech sector still outperforms.
  • Crude oil continues to rally.
  • US dollar rose slightly following Fed activity.


RECAP– The market rallied today following Fed Chair Yellen’s testimony. Crude oil rallied but gave up much of its gains despite bullish inventory report. The US dollar rose slightly following volatility from the Fed testimony.

In-depth look of daily news at Briefing.com (CLICK HERE)

In-depth look at after hours movers (CLICK HERE)

Economic Calendar


  • July 12: Crude Oil Inventories – Actual: -7.6M  Forecast: -3.2M  Previous: -6.3M
  • July 12: Fed Chair Yellen Testifies


Upcoming Reports

  • July 13: PPI m/m
  • July 13: Unemployment Claims
  • July 13: Fed Chair Yellen Testifies
  • July 14: CPI m/m
  • July 14: Core CPI m/m
  • July 14: Core Retail Sales m/m
  • July 14: Retail Sales m/m


FedWatch July 26 Rate Hike Probability for July 12: 3.1% (View the probability chart here)

A Look At The S&P 500 Chart – KEY Levels

  • RSI is at 50.
  • On Balance Volume is above its moving average.
  • The market rose steadily throughout the day following Chair Yellen’s testimony.


A Look Into the Heat Map

The market was consistently bullish throughout all sectors.


(click on symbol for chart)
SPX – Bullish
Russell Neutral

VIX 10.30


Oil (USO)Bearish
Ag (DBA)Bearish
GLD Bullish


UUP USD weighted ETF – Bearish



The market is continuing to consolidate as we enter earnings season. This is a great time to break out some of your favorite earnings plays and at the very least practice in a paper account. Make sure to be mindful of the earnings date prior to placing a trade.

You can follow daily trade adjustments and updates on Twitter, Facebook, or text “follow @tackletrading” to 40404 to get text alerts!

If you are not a Pro Member and following the Stock & Option Picks, then check it out! There is a Promo code for Free 15 day trial: THETA

Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.


All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.



Chart Modal

Tackle Trading