Monday, May 29, 2017

Market News for the Prepared Mind: 5.29.2017 – 6.06.2017


"Chance favors the Prepared Mind." - Louis Pasteur

"Experience traders control risk, 
inexperienced traders chase gains." - Alan Farley

"We are pioneers and the history of pioneers is not that good." - Jeff Bezos

“I have a right to be blind sometimes.” - Lord Nelson

The blog will continue to focus on numbers and “facts.” The major equity indices rebounded from two weeks of negative numbers to set new all-time highs. The market’s ability to ignore “bad news” was a topic of conversation this week among the financial news talking heads.

Economic data has been tepid of late. The economic news continued this trend last week with despite disappointing GDP numbers for the first quarter, new-home sales, and durable goods orders. Many analysts attributed the strength of the US domestic equity indexes on better than expected results from overseas.

Other analysts have scrapped their crystal balls. The most puzzling explanation of the new market high was, “The markets just want to go higher.” This analysis should be called the Cyndi Lauper Theory in honor of her song “Girls Just Want to Have Fun.”  Please give me that man’s seat at the table.  Anthropomorphism is not my favored method of market analysis.
Here is an overview of the US market behavior last w
eek and for 2017:
Index 26-May Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 21,080.28 275.44 1.32% 6.67% 9.60% (VXD)
S&P 500 (SPX) 2,415.82 34.10 1.43% 7.93% 9.81% (VIX)
NASDAQ 100 (NDX) 5,788.36 136.80 2.42% 19.01% 12.26% (VXN)
Russell 2000 (RUT) 1,382.24 14.91 1.09% 1.85% 14.79% (RVX)
S&P 100 (OEX) 1065.35 14.56 1.39% 7.46% 9.16% (VXO)
Crude Oil (CLN7) 49.87 (1.09) -2.14% -7.46% 30.04%(OVX)
Dow Jones Transportation (TRAN) 4527.94 199.52 4.61% 11.76% NA
CBOE Volatility Index (VIX) 9.81 (2.23) -18.52% NA

Data Source: OptionVue8


The VIX closed just above the post-financial crisis lows from earlier this month. The CBOE Short-term Volatility Index (VXST) closed at an all-time low on Friday. Russell Rhoads, CBOE VIX guru, points out the low VIX levels are not accompanied by SKEW in the 150’s. 
Usually, SKEW is inversely related to low VIX levels. The current SKEW shows a lack of concern for tail risk despite the low VIX. There appears to be a lack of near-term fear about economic and political turmoil.


Indexes Ticker 26-May 19-May Change % Change
CBOE Volatility Index VIX 9.81 12.04 (2.23) -18.52%
VIX June Future (6/21/2017) VXM7 11.925 12.725 (0.80) -6.29%
VIX July Future (7/18/2017) VXN7 12.925 13.475 (0.55) -4.08%
VIX August Future (8/18/2017) VXQ7 13.775 14.425 (0.65) -4.51%
CBOE Short-term Volatility Index VXST 7.60 10.98 (3.38) -30.78%
CBOE 3 Month Volatility Index VXV 12.44 13.49 (1.05) -7.78%
CBOE Mid-term Volatility Index (6 month) VXMT 14.84 15.57 (0.73) -4.69%
VIX of VIX VVIX 81.81 87.21 (5.40) -6.19%
CBOE SKEW Index SKEW 125.41 131.39 (5.98) -4.55%
Long VIX ETP's
ProShares Ultra VIX Short Term Futures ETF UVXY 10.95 12.95 (2.00) -15.45%
iPath S&P 500 VIX Short Term Futures ETN VXX 13.46 14.64 (1.18) -8.06%
ProShares VIX Short Term Futures ETF VIXY 11.22 12.16 (0.94) -7.73%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 24.60 25.08 (0.48) -1.91%
Inverse VIX ETP's
ProShares Short VIX Short Term Future ETF SVXY 153.49 142.40 11.09 7.79%
Daily Inverse VIX Short Term ETN XIV 79.54 73.67 5.87 7.97%
Data Source: OptionVue8


It will be a very heavy week for economic news. The week starts with markets closed for Memorial Day in the U.S., and ends with the U.S. Employment Situation report. In between, we get a wide range of employment reports and indexes plus Consumer Spending, the S&P CoreLogic Case-Shiller Home Price Index, and International Trade.

This earnings season is winding down. It has been a strong earnings season. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website. Earnings highlights include g-III Apparel, Michael Kors Holdings, Vera Bradley, Analog Devices, Dollar General, Ciena, and Broadcom,


Advice to stimulate your imagination:

“Sometimes paranoia is just having all the facts.” – William S. Burroughs

“The secret of life is to have no fear; 
it's the only way to function.” - Stokely Carmichael

“All media exist to invest our lives with artificial perceptions and arbitrary values.” - Marshall McLuhan

“The key to risk management is never putting yourself in a position where you cannot live to fight another day.” - Dick Fuld



Monday May 29:

US Holiday – Memorial Day – Markets Closed


International Economic: Japan Household Spending and Unemployment Rate – 7:30PM.


Earnings:
SYMBOL B/A 5/26 Close AVGVOL AVG MOVE SMA 10 50% FIB
RYAAY BMO $106.22 255,745 3.11% $101.90 $97.03
TTM BMO $37.07 1,405,530 7.33% $35.18 $35.09 


Tuesday Monday May 30:
Economic: Personal Income and Outlays – 8:30, S&P Corelogic Case-Shiller HPI -9:00, State Street Investor Confidence Index – 10:00, Dallas Fed Manufacturing Survey – 10:30.

International Economic: France GDP – 2:45AM, Eurozone Economic Sentiment – 5:00AM, Germany CPI - 8:00AM, Japan Industrial Production – 7:50PM, China CFLP Manufacturing PMI = 9:00PM.

Earnings:
SYMBOL B/A 5/26 Close AVGVOL AVG MOVE SMA 10 50% FIB
ADI BMO $82.81 3,287,900 2.71% $81.27 $78.80
KORS BMO $36.76 2,043,180 5.29% $36.41 $37.17
OLLI AMC $41.70 597,864 3.24% $40.30 $39.59
PANW AMC $118.08 2,227,790 12.80% $117.19 $114.72
SMTC AMC $37.10 488,458 2.13% $36.22 $35.27
VAL BMO $112.99 867,747 0.16% $112.22 $112.32





Wednesday May 31:

Economic: MBA Mortgage Applications – 7:00, Redbook – 8:55, Chicago PMI – 9:45, Pending Home Sales Index – 10:00, Beige Book – 2:00, Farm Prices – 3:00.

International Economic: Germany Retail Sales – 2:00AM, France PPI, Germany Unemployment Rate – 3:55AM, Eurozone Unemployment Rate - 5:00AM, Japan PMI Manufacturing Index – 8:30PM.

Other: Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated Q&A session with audience and media at the C. Peter McColough Series on International Economics in New York City – 800AM, San Francisco Federal Reserve Bank President John Williams to speak at The Bank of Korea International Conference 2017: Global Economic and Financial Challenges: The Decade Ahead in Seoul, with media and audience Q&A – 7:30PM.

Earnings:
SYMBOL B/A 5/26 Close AVGVOL AVG MOVE SMA 10 50% FIB
AVGO AMC $241.21 2,361,800 3.57% $237.92 $228.88
COO AMC $217.46 380,447 1.44% $214.06 $208.60
DCI BMO $46.68 508,991 7.10% $46.72 $46.31
DG BMO $72.32 2,877,090 4.78% $71.46 $71.91
FIVE AMC $52.63 1,163,250 5.97% $52.12 $50.37
GWRE AMC $67.73 385,908 2.62% $63.50 $63.76
JOY BMO $28.30 1,114,410 0.12% $28.25 $28.21
LULU AMC $48.23 3,858,690 12.79% $49.32 $51.84
MBLY BMO $61.80 5,931,020 2.59% $61.78 $61.70
RH AMC $57.81 1,773,290 16.53% $57.58 $53.65
TECD BMO $94.66 427,206 5.06% $93.70 $94.95
VMW AMC $96.81 1,205,560 6.26% $94.61 $93.96
WDAY AMC $99.99 1,536,100 7.58% $97.71 $93.12



Thursday June 1:

Economic: Motor Vehicle Sales, Chain Store Sales, Challenger Job-Cut Report – 7:30, ADP Employment Report - 8:15, Weekly Jobless Claims – 8:30, Productivity and Costs – 8:30, Gallup Good Jobs Rate – 8:30, PMI Manufacturing Index – 9:45, Bloomberg Consumer Confidence – 9:45, ISM Manufacturing Index – 10:00, Construction Spending – 10:00, EIA Natural Gas Report – 10:30, EIA Petroleum Status Report – 11:00, Money Supply – 4:30.

International Economic: Germany PMI Manufacturing Index – 3:55AM, Eurozone PMI Manufacturing Index – 4:00SM

Earnings: None meeting criteria.



Friday June 2:

Economic: Employment Situation – 8:30, International Trade – 8:30, Baker Hughes Rig Count – 1:00.

International Economic: Eurozone PPI – 5:00AM.

Earnings: None meeting criteria.

Monday June 5:
Economic: Gallup US Consumer Spending Measure – 8:30, PMI Services – 9:56. Factory Orders – 10:00, ISM Non-Manufacturing Index – 10:00, Labor Market Conditions Index = 10:00, TD Ameritrade IMX – 12:30

International Economic: No major announcements.

Earnings:
SYMBOL B/A 5/26 Close AVGVOL AVG MOVE SMA 10 50% FIB
CASY AMC $115.78 505,433 3.57% $114.47 $113.30
THO AMC $91.40 835,078 7.83% $93.33 $94.37



Monday, May 22, 2017

Market News for the Prepared Mind: 5.22.2017 – 5.29.2017


"Chance favors the Prepared Mind." - Louis Pasteur

“Everything is contingent, and there is also chaos.” Spalding Gray

“Chaos is a friend of mine.” - Bob Dylan

“Does not everything depend on our interpretation of the silence around us?” – Lawrence Durrell

The blog will focus on numbers and “facts.” This is a very frustrating market. My trading discipline is the result of thirty years of daily immersion in equities and their derivative markets. The major variables have always been price movement, volatility, volume, market trends and news This is year has a new variable has been added. Every decision I make is tempered by the unknown variable – a wild card. This unpredictability arises from the, often contradictory, statements of Donald Trump. This will be, yet, another week when where I have to try and define the impact of the unknown variable. Be wary, be nimble.

Here is an overview of the US market behavior last week and for 2017:
Index 19-May Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 20,804.84 (91.77) -0.44% 5.27% 11.09% (VXD)
S&P 500 (SPX) 2,381.72 (8.28) -0.35% 6.41% 12.04% (VIX)
NASDAQ 100 (NDX) 5,651.56 (35.25) -0.62% 16.20% 13.86% (VXN)
Russell 2000 (RUT) 1,367.33 (15.44) -1.12% 0.75% 16.84% (RVX)
S&P 100 (OEX) 1050.79 (6.02) -0.57% 5.99% 11.07% (VXO)
Crude Oil (CLN7) 50.96 3.14 6.57% -5.44% 33.72%(OVX)
Dow Jones Transportation (TRAN) 4328.42 (64.86) -1.48% 6.84% NA
CBOE Volatility Index (VIX) 12.04 1.64 15.77% NA

Data Source: OptionVue8


VIX futures show little change at the end of the week despite the S&P 500 have its largest downward swoon of the year. The unknown variable on Pennsylvania Avenue is forcing traders to be very nimble.

Here is an overview of last week for the VIX and related products:
Indexes Ticker 19-May 12-May Change % Change
CBOE Volatility Index VIX 12.04 10.40 1.64 15.77%
VIX June Future (6/21/2017) VXM7 12.725 12.425 0.30 2.41%
VIX July Future (7/18/2017) VXN7 13.475 13.625 (0.15) -1.10%
VIX August Future (8/18/2017) VXQ7 14.425 14.175 0.25 1.76%
CBOE Short-term Volatility Index VXST 10.98 9.40 1.58 16.81%
CBOE 3 Month Volatility Index VXV 13.49 12.97 0.52 4.01%
CBOE Mid-term Volatility Index (6 month) VXMT 15.57 15.10 0.47 3.11%
VIX of VIX VVIX 87.21 82.50 4.71 5.71%
CBOE SKEW Index SKEW 131.39 128.21 3.18 2.48%
Long VIX ETP's
ProShares Ultra VIX Short Term Futures ETF UVXY 12.95 12.41 0.54 4.36%
iPath S&P 500 VIX Short Term Futures ETN VXX 14.64 14.04 0.60 4.27%
ProShares VIX Short Term Futures ETF VIXY 12.16 11.72 0.44 3.75%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 25.08 24.91 0.17 0.68%
Inverse VIX ETP's
ProShares Short VIX Short Term Future ETF SVXY 142.40 154.45 (12.05) -7.80%
Daily Inverse VIX Short Term ETN XIV 73.67 79.85 (6.18) -7.74%

Data Source: OptionVue8

The last full week of May brings reports on existing home sales, new home sales, and durable goods. In addition, the Fed will release the minutes of its last meeting. However, the focus will be in the chaos and disorganization inside the Beltway.

It has been a strong earnings season. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website. Earnings highlights include Nordson, Agilent, Toll Brothers, Autozone, intuit, Eaton Vance, Advance Auto Parts, Tiffany, HP, Guess?, Williams Sonoma, Lowe’s, Dollar Tree, Hormel Foods, Gamestop, Medtronic , Ulta Beauty, Toro, Costco, Best Buy and Big Lots.


Advice to stimulate your imagination:

“I like an element of chaos in music. That feeling is the best thing ever, 
as long as you don't have too much of it.” - Jeff Beck

“The aim of education is the knowledge, not of facts, 
but of values.” - William S. Burroughs

“All media exist to invest our lives with artificial perceptions 
and arbitrary values.” - Marshall McLuhan



Monday May 22:



Economic: Chicago Fed National Activity Index – 8:30.


International Economic: Japan All Industry Index – 1:30AM.

Other: Minneapolis Federal Reserve Bank President Neel Kashkari will deliver welcoming remarks at the Opportunity and Inclusive Growth Institute Conference in Minneapolis – 10:00AM, Philadelphia Federal Reserve Bank President Patrick Harker to discuss "the Link Between Physical and Economic Wellbeing" at the Jefferson College of Health Professions and Jefferson College of Pharmacy Commencement Ceremony in Philadelphia – 10:00AM, Minneapolis Federal Reserve Bank President Neel Kashkari to participate in a media Q&A at the Opportunity and Inclusive Growth Institute Conference in Minneapolis – 6:45PM, Federal Reserve Governor Lael Brainard will deliver the dinner keynote speech at the Opportunity & Inclusive Growth Institute Conference in Minneapolis – 7:00PM, Federal Reserve Governor Lael Brainard will speak about "The Roles of Opportunity and Inclusion in Strengthening the U.S. Economy" at the Federal Reserve Bank of Minneapolis conference on Opportunity and Inclusive Growth in Minneapolis, with audience Q&A – 7:30PM, Chicago Federal Reserve Bank President Charles Evans will speak at the Symposium on OTC Derivatives - 58th Shanghai Clearing House Forum on Policy and Practice-Default Management, a private event closed to the media, but remarks are to be posted at the Chicago Fed.org website, in Shanghai China – 9:10PM.


Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
A AMC $56.13 2.93% $56.36 $55.34




Tuesday May 23:


Economic: Redbook – 8:55, New Home sales – 10:00, Richmond Fed Manufacturing Index – 10:00.


International Economic: Japan All Industry Index – 12:30AM, Germany GDP – 2:00AM, Germany PMI Composite Flash – 3:30AM, Eurozone PMI Composite Flash – 4:00AM.


Other: Minneapolis Federal Reserve Bank President Neel Kashkari to participate in in a conversation about "Homeownership in Indian Country" at the CICD Roundtable - A Conversation about Building Economic Well-Being for Native Communities through Homeownership, in Minneapolis - 3:15PM, Philadelphia Federal Reserve Bank President Patrick Harker to give a presentation, with audience and Q&A in New York – 5:00PM.


Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
MOMO BMO $43.58 10.44% $39.87 $40.06
TOL BMO $37.84 7.37% $37.16 $36.48
INTU AMC $125.38 2.81% $126.52 $121.63
TTWO AMC $67.58 3.24% $67.56 $63.95





Wednesday May 24:


Economic: MBA Mortgage Applications – 7:00, FHFA House Price Index – 9:00, PMI Composite Flash - 9:45, Existing Home Sales – 10:00, EIA Petroleum Status Report – 10:30, FOMC Minutes – 2:00.

International Economic: No major announcements.


Other: Minneapolis Federal Reserve Bank President Neel Kashkari to speak at the Town Hall Forum in Ashland, Wisconsin, with audience Q&A – 6:00PM, Philadelphia Federal Reserve Bank President Patrick Harker to give a presentation, with audience and Q&A in New York – 5:00PM.


Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
AAP BMO $151.47 2.31% $145.94 $144.51
DY BMO $106.58 15.55% $107.62 $101.44
EV BMO $44.88 2.29% $44.48 $43.90
LOW BMO $84.59 4.47% $85.18 $83.65
TIF BMO $92.92 2.92% $92.16 $92.00
CPRT AMC $29.31 4.26% $30.00 $30.25
CSRA AMC $28.75 6.32% $29.27 $28.72
NTAP AMC $39.53 5.21% $40.42 $40.56
PVH AMC $100.41 3.13% $100.83 $100.92
TMUS AMC $66.37 2.97% $65.67 $66.19




Thursday May 25:


Economic: International Trade in Goods – 8:30, Weekly Jobless Claims – 8:30, Bloomberg Consumer Confidence – 9:45, EIA Natural Gas Report – 10:30, Kansas City Fed Manufacturing Index – 11:00, Money Supply – 4:30.
International Economic: Great Britain GDP – 4:30AM.

Other: Federal Reserve Governor Lael Brainard to participate in a panel discussion on global economic issues at the Center for Global Development's Voices of Experience: A conversation with former Treasury Under Secretaries for International Affairs in Washington, with audience Q&A – 10:00AM, Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated Q&A session at the C.D. Howe Institute Annual Directors' Dinner, with audience Q&A – 6:00PM, St. Louis Federal Reserve Bank President James Bullard to present on the topic of "U.S. Economy and Monetary Policy" at Keio University in Tokyo, with audience and media Q&A – 10:00PM.

Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
BBY BMO $51.33 10.55% $51.45 $50.35
BURL BMO $94.74 7.05% $98.90 $97.28
CM BMO $78.86 2.38% $78.79 $81.74
DLTR BMO $79.68 9.03% $80.00 $79.83
HRL BMO $34.83 4.00% $34.41 $34.65
MDT BMO $83.23 1.80% $83.31 $82.22
PDCO BMO $42.79 3.20% $43.65 $44.03
RY BMO $68.81 1.79% $68.07 $69.69
SIG BMO $58.65 9.60% $61.62 $62.92
TD BMO $46.64 0.37% $46.40 $47.46
COST AMC $171.64 3.48% $172.15 $175.94
DECK AMC $59.01 7.55% $59.72 $58.95
SPLK AMC $65.93 2.89% $67.09 $64.23
ULTA AMC $294.08 5.36% $296.81 $288.70
VEEV AMC $60.31 8.42% $56.65 $54.94





Friday May 26:


Economic: Durable Goods Orders – 8:30Am, GDP – 8:30, Corporate Profits – 8:30, Consumer Sentiment = 10:00Baker Hughes Rig Count – 1:00.


International Economic: No major Announcements.


Other: San Francisco Federal Reserve Bank President John Williams to deliver the keynote address at the Symposium on Asian Banking and Finance: Risk and Resilience in Global Finance in Singapore, with media and audience Q&A – 8:15PM,


Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
BIG BMO $47.50 4.12% $48.36 $48.52





Monday May 29:


US Holiday – Memorial Day – Markets Closed


International Economic: Japan Household Spending and Unemployment Rate – 7:30PM.


Tuesday May 30:


Economic: Personal Income and Outlays – 8:30, Consumer Confidence – 9:00, State Street Investor Confidence Index – 10:00, Dallas Fed Manufacturing Survey – 10:30.


International Economic: France GDP – 2:45AM, Eurozone Economic Sentiment – 5:00AM, Germany CPI - 8:00AM, Japan Industrial Production – 7:50PM, China CFLP Manufacturing PMI = 9:00PM.


Earnings:
SYMBOL B/A 19-May MEAN SMA 10 50% FIB
BNS BMO $55.79 3.14% $55.40 $56.06
TTM BMO $34.45 7.33% $33.51 $34.20

























































































Monday, May 15, 2017

Market News for the Prepared Mind: 5.15.2017 – 5.22.2017

 
"Chance favors the Prepared Mind." - Louis Pasteur

“There are nights when the wolves are silent and only the moon howls” – George Carlin

“Silence is so freaking loud” – Sarah Dessen

“Does not everything depend on our interpretation of the silence around us?” – Lawrence Durrell

It is quiet. This is a short entry befitting the activity of the past week. I need to channel my inner Alfred E. Neuman. His signature phrase, “What, me worry?” is easily applied to the current US equity markets. The market continues to shrug off every piece of piece of negative news.

Ever sell-off is a buying opportunity. The markets have become a never-ending big yawn. President Trump fires FBI Director James Comey – yawn. North Korea test intercontinental ballistic missiles and atomic bombs – yawn. Syria uses chemical weapons on their own citizens – yawn. It seems there is nothing of sufficient gravity to roil the stock markets.

In 2017, the Dow Jones Industrial Average has on had four moves of 1% or more in either direction. This is the lowest number of 1% moves to start a year since 1965. Volatility continues to trend lower. The markets are quiet, perhaps too quiet. In movies, silence can speak louder than any use of sound. Ignore the silence at your own risk. The lack of noise can distance a trader from the market. Listen! Remain engaged and nimble.

Here is an overview of the US market behavior last week and for 2017:
Index 12-May Change % Weekly 2017 YTD Volatility of Index
Dow Jones Industrials (DJIA) 20,896.61 (110.33) -0.53% 5.74% 10.63% (VXD)
S&P 500 (SPX) 2,390.00 (9.00) -0.38% 6.78% 10.40% (VIX)
NASDAQ 100 (NDX) 5,686.81 40.72 0.72% 16.93% 12.30% (VXN)
Russell 2000 (RUT) 1,382.77 (14.23) -1.02% 1.89% 15.78% (RVX)
S&P 100 (OEX) 1056.81 (4.45) -0.42% 6.59% 9.56% (VXO)
Crude Oil (CLM7) 47.82 1.34 2.89% -11.26% 33.72%(OVX)
Dow Jones Transportation (TRAN) 4393.28 (61.32) -1.38% 8.44% NA
CBOE Volatility Index (VIX) 10.4 (0.17) -1.61% NA
Data Source: OptionVue8


Volatility is still flirting with historic lows. Russell Rhoda of the CBOE trade of the week as a as a MOAVCS (Mother of all VIX Call Spreads). On Tuesday, 195,000 bullish VIX June 30/35 call spreads were purchased for a net cost of 0.06.

Here is an overview of last week for the VIX and related products:
Indexes Ticker 12-May 5-May Change % Change
CBOE Volatility Index VIX 10.40 10.57 (0.17) -1.61%
VIX May Future (5/17/2017) VXK7 11.225 11.775 (0.55) -4.67%
VIX June Future (6/21/2017) VXM7 12.425 12.675 (0.25) -1.97%
VIX July Future (6/18/2017) VXN7 13.625 13.675 (0.05) -0.37%
CBOE Short-term Volatility Index VXST 9.40 11.44 (2.04) -17.83%
CBOE 3 Month Volatility Index VXV 12.97 12.85 0.12 0.93%
CBOE Mid-term Volatility Index (6 month) VXMT 15.10 14.65 0.45 3.07%
VIX of VIX VVIX 82.50 80.65 1.85 2.29%
CBOE SKEW Index SKEW 128.21 131.36 (3.15) -2.40%
Long VIX ETP's
ProShares Ultra VIX Short Term Futures ETF UVXY 12.41 13.15 (0.74) -5.63%
iPath S&P 500 VIX Short Term Futures ETN VXX 14.04 14.45 (0.41) -2.84%
ProShares VIX Short Term Futures ETF VIXY 11.72 12.05 (0.33) -2.74%
iPath S&P 500 VIX Mid-Term Futures ETN VXZ 24.91 24.48 0.43 1.76%
Inverse VIX ETP's
ProShares Short VIX Short Term Future ETF SVXY 154.45 150.07 4.38 2.92%
Daily Inverse VIX Short Term ETN XIV 79.85 77.63 2.22 2.86%
Data Source: OptionVue8


The third week of May will be quiet – Housing Starts and Industrial Production. The wild card remains the political situation in Washington, D.C. However, chaos in D.C. does not appear to have any correlation with chaos in the markets.

The earnings season is starting to wind down. The earnings highlight will be Wal-Mart Stores’ release of first quarter earnings. Confirm the date and time of any company’s earnings announcement before trading any earnings announcement strategy. The most accurate source of this information is the company’s investor relations website. Other earnings highlights include Staples, TJX, Home Depot, Urban Outfitters, Dick’s Sporting Goods, Synopsys, Cisco, Flowers Foods, Ross Stores, Ralph Lauren, Foot Locker, and Deere & Co.


Advice to stimulate your imagination:

“Patience, Grasshopper” – Master Po

“If you do not actively attack the risks, they will actively attack you.” - Tom Gib

“Lying is done with words, and, also, with silence.” – Adrienne Rich

"The easy way out usually leads back in." - Peter Senge

“Silence about a thing just magnifies it.” – Tennessee Williams



Monday May 15:

Economic: Empire State Manufacturing Survey – 8:30, Housing Market Index - 10:00.

International Economic: China PPI and Import Price Index – 3:15AM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB DATE
NOAH AMC $25.83 195,098 6.17% $25.51 $25.95 15-May



Tuesday May 16:

Economic: Housing Starts – 8:30, Redbook -  8:55, Industrial production – 9:15, E-Commerce Retail Sales – 10:00.

International Economic: Japan Tertiary Index – 12:30AM, Great Britain CPI and PPI – 4:30AM, Eurozone GDP Flash and Merchandise Trade – 5:00AM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB
DKS BMO $48.06 2,777,080 7.76% $50.87 $50.19
HD BMO $156.92 4,009,560 1.75% $155.97 $151.96
MMYT BMO $38.00 404,490 1.06% $38.02 $37.42
SSYS BMO $29.96 790,366 6.82% $26.83 $24.91
TJX BMO $77.31 3,715,510 1.86% $78.97 $78.36
VOD BMO $27.58 4,035,610 2.59% $26.72 $26.41
VRTU BMO $31.35 465,180 2.41% $31.28 $29.75
WB BMO $62.44 1,559,420 9.23% $57.89 $56.05
ACXM AMC $28.04 321,598 9.17% $28.78 $28.01
HLI AMC $34.48 287,677 2.77% $34.09 $34.37
JACK AMC $100.30 722,261 9.60% $103.48 $101.83
RRGB AMC $57.65 319,523 8.93% $59.15 $57.67
SINA AMC $83.50 852,610 10.60% $79.19 $76.22



Wednesday May 17:

Economic: MBA Mortgage Applications – 7:00, EIA Petroleum Status Report – 10:30.

International Economic: Great Britain Labour Market Report – 4:30AM, Eurozone HICP – 5:00AM, Japan GDP – 7:50, China Home Price Index – 8:30PM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB
TGT BMO $55.80 7,452,840 8.15% $56.96 $55.69
CSCO AMC $33.45 19,040,800 2.78% $34.07 $33.51
LB AMC $49.55 4,806,020 7.10% $52.03 $48.35
SNPS AMC $74.42 1,469,630 4.52% $74.04 $72.62
SQM AMC $34.34 734,003 3.48% $34.45 $35.27



Thursday May 18:

Economic: Weekly Jobless Claims – 8:30, Philadelphia Fed Business Survey – 8:30, Bloomberg Consumer Confidence – 9:45, Leading Indicators – 10:00, EIA Natural Gas Report – 10:30, Money Supply – 4:30.

International Economic: Great Britain Retail Sales – 4:30AM, Eurozone Consumer Confidence Flash – 10:00.

Other: Cleveland Federal Reserve Bank President Loretta Mester to speak at the Economic Club of Minnesota in Minneapolis – 1:15PM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB
BABA BMO $120.34 9,097,630 3.67% $117.57 $113.63
EXP BMO $98.54 579,985 2.27% $98.83 $97.31
MNRO BMO $50.40 336,656 4.50% $51.71 $51.92
NGG BMO $66.98 548,097 2.16% $65.86 $65.18
PLCE BMO $122.00 527,108 9.14% $117.62 $114.42
RL BMO $76.40 1,254,960 6.90% $81.16 $81.17
WMT BMO $75.71 8,314,610 4.38% $76.02 $74.22
ADSK AMC $95.39 2,110,560 4.05% $93.47 $89.50
AMAT AMC $43.44 8,653,490 5.44% $41.90 $40.44
CRM AMC $89.04 4,141,870 3.74% $86.89 $85.47
GLOB AMC $36.99 193,969 6.14% $37.33 $35.88
GPS AMC $25.07 5,158,270 6.94% $26.17 $24.88
MCK AMC $144.58 1,620,140 9.34% $141.01 $140.30
RAVN AMC $31.00 176,069 5.70% $31.11 $29.90
ROST AMC $63.49 2,441,200 3.81% $64.93 $64.50



Friday May 19:

Economic: Baker Hughes Rig Count – 1:00.

International Economic: Germany PPI – 2:00AM.

Other: St. Louis Federal Reserve Bank President James Bullard to present on "U.S. Economy and Monetary Policy" at the Association for Corporate Growth St. Louis Chapter Washington University in St. Louis, held in St. Louis, with audience and media Q&A. – 9:15AM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB
CPB BMO $57.22 1,634,260 5.68% $57.29 $57.14
DE BMO $113.11 2,336,050 7.75% $112.37 $110.61
FL BMO $74.88 1,868,780 6.86% $76.66 $74.51



Monday May 22:


Economic: Chicago Fed National Activity Index – 8:30.

International Economic: Japan All Industry Index – 1:30AM.

Earnings:
SYMBOL B/A 5/12 Close AVGVOL MEAN SMA 10 50% FIB
BAH BMO $35.99 1,064,660 4.09% $35.74 $35.48
KLXI BMO $47.11 453,615 6.02% $47.60 $46.23
A AMC $56.16 1,844,680 2.77% $56.20 $54.61
LXFT AMC $64.20 171,639 6.05% $62.72 $62.35
NDSN AMC $129.31 272,098 7.79% $127.69 $124.69