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Market Recap July 20, 2017

July 20, 2017

By | 3 Comments



SP 5002473.46-0.38(-0.02%)
10-yr Note+2/322.263
NYSEAdv 1458Dec 1427Vol 752.2 mln
NasdaqAdv 1411Dec 1332Vol 1.81 bln



  • ECB & BoJ leave policy programs unchanged; ECB President Draghi says substantial degree of accommodation still needed.
  • Countercyclical sectors outperform, Treasuries rally amid risk-off sentiment.
  • Crude oil pulls back.
  • US dollar continues to struggle.


RECAP– The market struggled to put in a new high today as momentum from yesterday’s rally was lost. Crude oil pulled back after a recent rally. The US dollar continues to struggle.

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

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

Economic Calendar


  • July 20: Unemployment Claims – Actual: 233K  Forecast: 245K  Previous: 248K

    • New unemployment claims remain at all time lows.


Upcoming Reports

  • Nothing major left.


FedWatch July 26 Rate Hike Probability for July 20: 3.1% (View the probability chart here)

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

  • RSI is above 50.
  • On Balance Volume is above its moving average.
  • The market is on a recent rally and broke resistance.
  • There is no technical level of resistance that is clearly evident and the market is not overly extended.


A Look Into the Heat Map

The market was mixed today with money moving into Utilities.


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

VIX – 9.51


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. The following companies are reporting earnings over the next several days:

With the VIX closing below 10, this would be an opportune time to buy protective puts on a portfolio as a hedge during the summer lull before they go up in price again. The summer is usually characterized by flat trading before a selloff just before or in the beginning of Fall. Be mindful of seasonality.

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3 Replies to “Market Recap July 20, 2017”

  1. Avatar ThomasFlohr says:

    Thank You Solon ?

  2. KerenClark KerenClark says:

    Thank you Solon for including the companies reporting earnings!

  3. Avatar HERBERTALLEN says:

    Thank you Solon. Excellent report as always!

Comments are closed.

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