View From The Hill: August-17-2015

Posted on Posted in Views From The Hill

Market Summary

The first half hour of trading saw stock prices tumble on much weaker but buyers quickly came in and supported prices light volume. Despite the positive price action,  volume for the SP-500 ETF (SPY) was down -29% less than average, while the Nasdaq 100 (QQQ) and Russell-2k (IWM) exchange traded funds respectively traded on -25% and -28% less than average volume.


Market breadth for the SP-500 components clearly favored the bulls today.

  • Advancers (383) vs. Decliners (109).
  • New 5-day highs (150) were almost three times the number of New 5-day lows (60)
  • New 52-week highs (30) were greater than new 52-week lows (12).
  • Bullish reversals (163) led Bearish reversals (22) today.

Index

Price

Change

SP-500 2102.44 +10.90 / +0.52%
Nasdaq-100 4566.37 +35.63 / +0.79%
Russell-2k 1225.09 +12.40 / +1.02%
VIX 13.02 +0.19 / +1.48%
10 Yr Tsy Note Rate 2.15 -0.04 / 1.83%
30 Yr Tsy Bond Rate 2.80 -0.04 / -1.41%
US Dollar Index 96.81 +0.29 / +0.30%
Gold (Cash) 1117.33 +2.72 / +0.24%
WTI Crude Oil (Cash) 41.81 -0.66 / -1.55%
DJ Real Estate Index 299.27 +2.24 / +0.75%
DJ Homebuilders Index 619.04 +12.86 / +2.12%

Volume Surging Stocks

Stock prices increasing on high volume
  • Automatic Data Processing Inc. (ADP) @ 84.70 (+2.06%) on 94% volume surge
  • Yum! Brands Inc (YUM) @ 85.03 (+1.72%) on 64% volume surge
  • TJX Companies Inc (TJX) @ 71.61 (+1.43%) on 58% volume surge
  • Health Care Reit Inc (HCN) @ 69.35 (+69.35%) on 55% volume surge
  • Pentair Inc (PNR) @ 62.50 (+1.51%) on 50% volume surge
Stock prices declining on high volume
  • Estee Lauder (EL) @ 82.80 (-6.78%) on 619% volume surge
  • Chevron Corp (CVX) @ 83.23 (-3.21%) on 69% volume surge
  • Marathon Oil Grp (MRO) @ 17.40 (-3.44%) on 64% volume surge

Market Moving Events

Bullish

  • Sovereign Debt / Greece: German Chancellor Merkel experessed optimism that the IMF will grant Greece a third bailout once it receives its debt relief.
  • Real Estate / USA: The August-2015 Housing Market Index indicated that this ares of the economy continues to show strength with a solid reading @ 61 vs. forecasts @ 61 and prior results @ 60.

Bearish

  • Economy / Manufacturing: The August-2015 Manufacturing Survey Report came in much weaker than expected @ -14.92 vs. forecasts @ 4.75 and previous results @ 3.86.

Neutral

  • N/A

 

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