In After Hours Trading
IPOs on deck: none of note.
Secondaries on deck: ACAD GNL RCKT SKY SWX.
Filings After The Close: GNL SKY common stock.
Earnings From After the Close: none of note.
Surprises: GWPH +0.54 , NTNX +0.14 , CRM +0.11 , BV +0.06 , OOMA +0.03 , CENT +0.01.
Mixed Guidance: OOMA CRM.
News After The Close:
Western Digital (WDC) CFO to step down but remain until June of 2019.
Oshkosh (OSK) picks up Army contract worth $1.7 billion to be complete September 2019.
In Washington Post interview, President Trump says not the least bit happy with Federal Reserve Chairman Jerome Powell.
Hourly Action This Week:
What’s Happening This Morning:
U.S. futures: S&P +11 Dow Jones +121 NDX +35 and Russell 2000 +7 with fair values LOWER. Asia and Europe higher.
Gold, silver and copper higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury price 119.23 with yields higher since Tuesday morning. Prices as of 7:55 a.m. EDT.
Top Sectors Tuesday: Utilities, Services and Healthcare.
Weakest Sectors Tuesday: Conglomerates, Materials and Industrials.
One Month Winners: Utilities and Financials.
Three Month Winners: Utilities
Six Month Winners: Healthcare and Utilities.
Twelve Month Winners: Healthcare, Services and Conglomerates
Year To Date Winners: Healthcare, Services, Conglomerates and Utilities.
Earnings Ahead: (sorted by Market Cap and only most impactful and notables listed)
Earnings Expected After The Close: VEEV SMTC BOX DSGX GES OXM LZB TLYS IIIV.
Earnings Due Thursday Morning: TD CM DLTR CMD .
Rags & Mags:
Five Things To Know Before You Start Your Day. (Bloomberg)
Earnings Reported This Morning:
Surprises: SINA +0.21 , BURL +0.15 , ATKR +0.08 , BITA +0.07 , JILL +0.06 , RY +0.05 , DKS +0.05 , WB +0.04
Flat: SPWH, TIF
Misses: SJM (0.12), CHS (0.03)
Lower Guidance: SJM SINA WB
Mixed Guidance: SPWH
Strong Guidance: AKTR BITA DKS
Yesterday saw 1122 stocks rise and 1800 fall on the NYSE. NASDAQ saw 1041 rise and 2019 fall.
The SP 500 is still below its 50 day simple moving average and its 200 day simple moving average (2762.39). The Russell 2000 is still below its 50 day simple moving exponential average and 200 day simple moving average.
The QPI10 Day Moving Average of Breadth (10DMA) moved to cash last Wednesday morning (11/21). For a move to cash, the 10DMA needs to have two days in row below -200.
YTD 36% (-3%) of stocks are higher and 61% (+1) are lower. Updated 11/23/18 close with next update on 11/26/18.
Yesterday saw the S&P 500 close above resistance while the Dow Jones Industrial Average finished resistance to pivot. The Russell had been showing intraday strength for last week against the S&P 500 and Dow Jones but failed yesterday as it closed right under support. Still a decent day after Monday’s blowout to the upside.
The Erlanger Value Lines track the intraday range of resistance, pivot and support. Each day we show were we closed within the range. This morning looks to be gap open above resistance. Of late, most gap opens have failed in short order. Will today start a new trend?
Technical Screen Of The Day:
Today we look at stock moving above their 50 day moving average from Tuesday’s Close. We also have included some proprietary data from Erlanger Chart Room.
API Petroleum data for week ended 11/23 Crude builds 3.44 million barrels. Gasoline draws -2.62 million barrels. Data was out at 4;30 p.m. EDT.
Mortgage Applications grew 5.5% week over week.
Q3 GDP is due out at 8:30 a.m. EDT and is expected to remain at 3.50%
October New Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 580,000 from 553,000.
Weekly Crude Oil Inventories are due out at 10:30 a.m. EDT.
Federal Reserve Chairman Powell speaks to the Economic Club of New York at 12:00 p.m. EDT.
Republicans win Mississippi Senate set taking majority to 53-47.
Conferences & Analyst Meetings:
RPM AXAHY UAVS.
Industry Meetings & Conferences:
Qualcomm (QCOM) 5G and AI Conference.
World Vaccine & Immunotherapy Congress West Coast Conference.
Credit Suisse Annual Technology, Media and Telecom Conference (11/26-11/29)
Evercore ISI HealthCONx (11/27-11/29)
Piper Jafray Healthcare Conference (11/27-11/29)
Jefferies Global Energy Conference (11/27-11/28)
Credit Suisse Annual Industrials Conference (11/27-11/29)
Citi Basic Materials Conference (11/26-11/28)
Deutsche Bank dbAccess Gaming, Lodging, Leisure and Restaurants 1 on 1 Conference.
M&A Activity And Credible Rumors of Note Overnight:
None of note.
Upgrades & Downgrades