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US MARKETS Friday, October 18, 2019
  Our Preferred Strategy for Today's Spotlight Stocks: LMT, CAT, IWP, IWO, SWN, NFLX, GPRO, CDE
Lockheed Martin (LMT)  377.1: the downside prevails as long as 378.77 is resistance.
Caterpillar (CAT)  132.1: as long as 130.68 is support look for 135.24.
iShares Russell Midcap Growth (IWP)  143.0: our next up target stands at 149.8.
iShares Russell 2000 Growth (IWO)  196.1: our next up target stands at 205.8.
Southwestern Energy (SWN)  2.2: the upside prevails as long as 1.79 is support.
NetFlix (NFLX)  293.4: our next up target stands at 339.9.
GoPro (GPRO)  3.8: the downside prevails as long as 4.26 is resistance.
Coeur Mines (CDE)  4.8: the downside prevails as long as 5.38 is resistance.
  Indices Last   %1D   %5D   %1M  
  S&P 500 2,998.0   +0.28   +2.04   -0.29   
  S&P 100 1,329.8   +0.23   +2.10   +0.13   
  Dow Jones 27,025.9   +0.09   +2.00   -0.45   
  Dow Jones Transportation 10,496.2   +0.61   +4.26   -0.76   
  Dow Jones Utility 862.3   +0.34   -1.13   +0.72   
  Nasdaq Composite 8,156.9   +0.40   +2.59   -0.25   
  NYSE Arca Major Market 2,701.3   -0.34   +0.96   -2.01   
  NYSE Composite 13,039.2   +0.01   +0.89   -0.42   
  Russell 2000 1,541.8   0.00   0.00   0.00   
  10-Year US T-note 17.6   +0.51   +10.57   -1.62   
  Comments
US indices closed slightly higher on Thursday helped by shares in the Health Care Equipment & Services (+1.26%), Food & Staples Retailing (+0.81%) and Media (+0.77%) sectors. Investors maintained a bullish sentiment after news of European Union and the U.K. striking a deal on Brexit. On the economic data front, US Housing Starts fell to 1.256 million in September missing the 1.32 million estimate compared to a revised 1.386 million in August. US Building Permits dropped to 1.387 million for September, above the 1.35 million estimate and lower than the revised prior 1.425 million. Initial Jobless Claims increased to 214 thousand for the week ended October 12th, below the 215 thousand estimate and above the prior 210 thousand. Overall, claims continue to show a tight labor market. Continuing Claims decreased to 1.679 million for the week ended October 5th, above the 1.675 million estimate and down from a revised 1.689 million the prior week. Industrial Production month over month declined to -0.4% for September, below the -0.2% estimate and down from a revised 0.8% in August. On Friday, economists expect the Leading Index to remain unchanged.

WTI crude oil closed higher on Thursday after the Energy Information Administration reported a decrease in gasoline and distillate supplies by approximately 6.4 million barrels.

Technical Recap of Today's Picks
  Intraday Strategies
Lockheed Martin intraday: the downside prevails as long as 378.77 is resistance
378.77 is our pivot point.

Our preference: the downside prevails as long as 378.77 is resistance.

Alternative scenario: above 378.77, look for 380.94 and 382.24.

Comment: the RSI is below 30. It could either mean that prices are in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Lockheed Martin is trading under both its 20 and 50 period MA (respectively at 380.52 and 381.95).

Chart
Caterpillar intraday: as long as 130.68 is support look for 135.24
Our pivot point is at 130.68.

Our preference: as long as 130.68 is support look for 135.24.

Alternative scenario: the downside breakout of 130.68 would call for 128.9 and 127.85.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. Prices could retrace in the short term. Caterpillar is trading above both its 20 and 50 period MA (respectively at 131.57 and 130.86).

Chart
  Short Term Strategies
iShares Russell Midcap Growth ST: our next up target stands at 149.8
139.9 is our pivot point.

Our preference: our next up target stands at 149.8.

Alternative scenario: below 139.9, expect 136.5 and 134.3.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 141.07 and 142.08). iShares Russell Midcap Growth is currently trading near its 52 week high reached at 148.54 on 26/07/19.

Chart
iShares Russell 2000 Growth ST: our next up target stands at 205.8
Our pivot point is at 190.1.

Our preference: our next up target stands at 205.8.

Alternative scenario: below 190.1, expect 184.7 and 181.6.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the stock is above its 20 and 50 day MA (respectively at 192.22 and 194.56). iShares Russell 2000 Growth is currently trading near its 52 week high reached at 207.2 on 31/07/19.

Chart
Southwestern Energy ST: the upside prevails as long as 1.79 is support
Our pivot point stands at 1.79.

Our preference: the upside prevails as long as 1.79 is support.

Alternative scenario: the downside breakout of 1.79 would call for 1.52 and 1.37.

Comment: the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 1.96 and 1.93).

Chart
NetFlix ST: above its upper Bollinger band
Our pivot point is at 275.3.

Our preference: our next up target stands at 339.9.

Alternative scenario: the downside breakout of 275.3 would call for 259.2 and 249.4.

Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the stock is above its 20 and 50 day MA (respectively at 272.71 and 287.03). Finally, NetFlix has crossed above its upper daily Bollinger band (292.21).

Chart
GoPro ST: the downside prevails as long as 4.26 is resistance
Our pivot point is at 4.26.

Our preference: the downside prevails as long as 4.26 is resistance.

Alternative scenario: above 4.26, look for 4.84 and 5.19.

Comment: the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 4.22 and 4.21).

Chart
Coeur Mines ST: the downside prevails as long as 5.38 is resistance
5.38 is our pivot point.

Our preference: the downside prevails as long as 5.38 is resistance.

Alternative scenario: the upside breakout of 5.38 would call for 6.01 and 6.39.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 5.09 and 5.12).

Chart
Sector Performance vs. S&P 500  - Find out which ETF sectors are performing the best and worst against the S&P 500.
1 day relative performance (%)
Sector Ticker Last %Chg SPY
Health Care XLV 92.1 0.74 0.45
Industrial XLI 77.61 0.49 0.2
Consumer Staples XLP 60.62 0.46 0.17
Consumer Discretionary XLY 122.41 0.26 -0.03
Materials XLB 57.61 0.26 -0.03
Utilities XLU 63.61 0.25 -0.04
Financial XLF 28.04 0.07 -0.22
Energy XLE 57.33 0.07 -0.22
Technology XLK 81.69 -0.2 -0.49
5 day relative performance (%)
Sector Ticker Last %Chg SPY
Health Care XLV 92.1 3.25 1.17
Industrial XLI 77.61 2.96 0.88
Financial XLF 28.04 2.67 0.6
Consumer Discretionary XLY 122.41 2.66 0.59
Materials XLB 57.61 2.4 0.33
Technology XLK 81.69 1.53 -0.52
Energy XLE 57.33 0.37 -1.66
Consumer Staples XLP 60.62 -0.46 -2.47
Utilities XLU 63.61 -0.86 -2.86
1 month relative performance (%)
Sector Ticker Last %Chg SPY
Health Care XLV 92.1 0.72 1.33
Technology XLK 81.69 0.5 1.12
Consumer Discretionary XLY 122.41 -0.09 0.52
Utilities XLU 63.61 -0.31 0.29
Consumer Staples XLP 60.62 -0.43 0.18
Financial XLF 28.04 -1.68 -1.09
Materials XLB 57.61 -1.81 -1.21
Industrial XLI 77.61 -1.91 -1.31
Energy XLE 57.33 -7.46 -6.89
Stocks performance within sectors  - Find out which stocks are performing the best and worst within the ETF sectors.
1 day relative performance (%)
Health Care (XLV) Ticker Last %Chg vs sector
AmerisourceBerge. ABC 89.5 4.01 3.24
McKesson MCK 151 3.91 3.15
Quest Diagnostic. DGX 105 -1.03 -1.76
Abiomed Inc ABMD 177 -1.2 -1.93
Utilities (XLU)
Edison Internati. EIX 70.6 1.03 0.78
Alliant Energy LNT 52.7 0.86 0.61
PPL Corporation PPL 32.1 -0.99 -1.24
Exelon EXC 44.1 -1.89 -2.14
5 day relative performance (%)
Health Care (XLV) Ticker Last %Chg vs sector
Cardinal Health CAH 51.2 11.21 7.7
AmerisourceBerge. ABC 89.5 10.74 7.25
Danaher DHR 138 -0.71 -3.84
IQVIA IQV 143 -1.06 -4.18
Utilities (XLU)
AES Corporation AES 16.2 2.65 3.54
NRG Energy NRG 39.8 2.45 3.33
Edison Internati. EIX 70.6 -4.89 -4.07
Exelon EXC 44.1 -7.09 -6.28
1 month relative performance (%)
Health Care (XLV) Ticker Last %Chg vs sector
Dentsply Sirona XRAY 55.0 10.21 9.42
AmerisourceBerge. ABC 89.5 7.83 7.06
Boston Scientifi. BSX 38.2 -11.03 -11.66
Mylan MYL 18.9 -11.32 -11.96
Utilities (XLU)
NextEra Energy NEE 231 3.21 3.54
Dominion Energy D 82.4 2.9 3.22
Nisource NI 28.0 -5.16 -4.86
Exelon EXC 44.1 -8.09 -7.8
Candlestick patterns
They can provide a good indication of investor psychology at a certain time. Some patterns can consist of one or a combination of candles and can be used to spot reversal patterns.
Bullish Patterns
Name Ticker Last %Chg Candlestick Inv.
Exelon EXC 44.06 -7.09 Hammer 43.42
Simon Propert. SPG 148.81 1.10 Bullish engulfing 148.62
Bearish Patterns
3M MMM 163.54 -0.07 Shooting star 165.49
AbbVie ABBV 75.14 0.93 Shooting star 76.18
Alphabet GOOGL 1252.8 3.58 Shooting star 1263.75
Alphabet Clas. GOOG 1253.07 3.67 Shooting star 1263.32
Biogen Idec BIIB 225.6 1.17 Bearish engulfing 227.85
Blackrock BLK 450.67 7.21 Shooting star 454.38
Comcast CMCSA 45.93 3.21 Hanging man 45.96
Facebook FB 190.39 5.75 Hanging man 190.84
Neutral Patterns
No signal
 
Technical alerts
They are based on mathematical indicators and can be used to determine change of trend or market acceleration. They are based on the following indicators: 20D & 50D moving average, 20D Bollinger bands, 14D RSI and MACD.
Bullish Alerts
Name Ticker Last %Chg Signal
Pepsico PEP 136.96 -0.67 20D MA crossover
NextEra Energy NEE 231.09 -0.39 20D MA crossover
Allstate ALL 107.74 0.56 20D MA crossover
Medtronic MDT 108.51 1.01 MACD signal line crossover
Biogen Idec BIIB 225.6 1.17 MACD signal line crossover
Accenture ACN 186.04 1.20 MACD signal line crossover
Celgene CELG 101.8 1.99 Upper Bollinger crossover
Gilead Sciences GILD 65.23 3.11 MACD zero line crossover
US Bancorp USB 54.71 3.19 MACD signal line crossover
Bristol-Myers Sq. BMY 52.42 3.23 Upper Bollinger crossover
Bullish Alerts
Exelon EXC 44.06 -7.09 Lower Bollinger cross under
Procter & Gamble PG 116.63 -4.35 Lower Bollinger cross under
MetLife MET 45.9 2.09 20D/50D MA cross under
  Economic Releases
US 08:00: IMF/World Bank Annual Meetings
US 10:00: Sep CB Leading Idx MoM, exp.: 0.1%
US 10:00: Fed George speech
US 10:00: Fed Kaplan speech
US 10:30: Fed Kashkari speech
US 11:30: Fed Clarida speech
US 13:00: 10/18 Baker Hughes Oil Rig count
US 17:10: Fed Kaplan speech
  Corporate Events
Expected results today
American Express (AXP) Q3, Citizens Financial (CFG) Q3, Coca-Cola (KO) Q3, Kansas City Southern (KSU) Q3, Schlumberger (SLB) Q3, State Street (STT) Q3, Synchrony Financial (SYF) Q3
Ex-dividends today
Caterpillar (CAT): $1.03, Hormel Foods (HRL): $0.21
After Hours
Atlassian (TEAM), a designer and developer of software, released first quarter adjusted EPS of 28 cents beating the 24.1 cents estimate vs. 20 cents a year ago on revenue of 363.4 million dollars also beating 351.7 million dollar estimate compared to 267.3 million dollars last year.

Intuitive Surgical (ISRG), a designer, manufacturer and marketer of surgical equipment, unveiled third quarter adjusted EPS of 3.43 exceeding the 2.99 dollar estimate vs. 2.83 dollar a year ago on revenue of 1.13 billion dollars slightly above the 1.1 billion dollars estimate compared to 920.9 million dollars a year ago.

E*Trade (ETFC), an online brokerage, reported third quarter EPS of 1.08 dollar above the 1.01 dollar estimate vs. 90.1 cents a year ago on revenue of 767 million dollars exceeding the 743.1 million dollars estimate, up from 720.0 million dollars the previous year.

People's United Financial (PBCT), a savings and loan holding company, reported third quarter EPS of 34 cents slightly above the 33 cents estimate vs. 33 cents a year ago. Net income was up 18.1 million dollars to 135.1 million dollars for the quarter compared to 117 million dollars last year.

AT&T (T), a communications holding company, is in talks with its shareholder Elliott Management and could resolve the activist investor's campaign, reported Bloomberg citing people familiar with the matter.

General Motors (GM), a multinational automotive manufacturer, would continue to face a labour strike until the workers ratified the tentative contract agreement, according to the United Automobile Workers cited by Bloomberg.


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All quotes are based on the closing price as of Thursday, October 17, 2019



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