Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Wednesday, the 23rd of May.
While Adam is away we will be providing the daily update in written form each day, with videos on Monday, Wednesday, and Friday each week.
DailyXchange
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Stocks on the move: TRIP ( Tripadvisor ) and EXPE( Expedia )
DON'T FIGHT THE MARKET … MOVE WITH THE MARKET!
TODAY'S MARKET MOVING SECTORS:
Percentage changes in stocks are relative to the S&P 500
| CONSUMER GOODS: -0.32% | Top Stock HRL +2.80% |
| SERVICES: +0.02% | Top Stock PETM +12.39% |
| HEALTHCARE: -0.54% | Top Stock MDVN +2.20% |
| ENERGY: -1.09% | Top Stock TSO +1.44% |
| TECHNOLOGY: -0.71% | Top Stock FTR +3.91% |
| FINANCIAL: -0.41% | Top Stock IEP +3.05% |
| INDUSTRIAL GOODS: -0.48% | Top Stock HEI +8.05% |
| BASIC MATERIALS: -0.97% | Top Stock RNF +2.39% |
| UTILITIES: -0.16% | Top Stock DGAS +2.90% |
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology. Click Here
Jeremy, thank you for the update!
Thanks...
It's interesting to see just how emotional investors remain... often selling many US companies with solid returns and revenues with little or in some cases no European exposure.
EMIL. NO-CoMENT.emil
With respect the market action, today's low did not take out Monday's low. If the SPY can make it through 133.23 taking out yesterday's high, it will turn the swing line study up while un-embedding the slow stochastic and neutralizing the bearish trend allowing for a run to the 134.50-135 area where I plan to re-establish puts for a sell off to the 1270-80 level basis the SP500. If the Euro ministers at the conference made positive comments about Eurozone bonds , that could provide a catalyst for such action.
I was able to take profits on SPY puts near today's lows and establish long positions with SPY, XRT, and IYR June calls. The latter 2 ETF's have high short interest that could provide buying power. Short interest ratio for XRT is 7.2 and IYR is 5-5.5 area.
Thanks Jeremy.
Your video is more productive than your supervisor's!!!
You do not show us "energy" build up that may confuse your viewers to get against market....
Good job