Stock Market Daily Discussion Thread for July 17th - 21st

haha good thing for reminding me on that one thx ... i actually did check up on this over the weekend and it was very close! i saw a 9.31 closing print on december 22nd 1993! missed it by that much

 

nice thx for posting that @rStock!

 

futures dipped ever so slightly on that headline but nothing too out of the norm


the one thing that did catch my eye was the dollar ... breaking the $95 handle convincingly now

 

looks like NFLX is single-handedly holding things up today

 

Earnings after the close today:
($IBM $CSX $UAL $ADTN $IBKR $NAVI $UFPI $WTFC $HBHC $PNFP $HAFC $EXPO $FULT $AMX)

 

nasdaq finally joining in with a new ATH recapturing all of the "tech wreck" losses of a few weeks back and then some ... looks like both nasdaq and s&p on pace for new closing highs today ... pretty resilient markets given the healthcare bill debacle again ... looks like earnings are front and center of the markets attention for now

 

FANG Just Eats Up Washington Gridlock
Jul 18, 2017

In the spirit of Mark Twain, the FANG stocks have roared back to life, definitively stating to the market that the reports of their demise have been greatly exaggerated. On an equal-weighted basis (chart below), an index of the four FANG stocks (Facebook, Amazon.com, Netflix, and Google-parent Alphabet) has now completely erased its 8% pullback from its 6/8 high and is now back at new highs. Over the last year alone, these four stocks are up an average of 45.7%. Whenever there is optimism that the Trump Administration will get something passed, high growth tech stocks start to lose momentum, but once it looks like more of the same old Washington gridlock, high growth stocks like FANG really run.



A lot of today’s strength in the performance of the FANG stocks on an equal-weighted basis is the fact that shares of Netflix (NFLX) are up over 12% following its strong earnings report after the close last night. NFLX has a much smaller market cap than the three other stocks that make up the FANG group, but even on a market cap weighted basis, the four FANG stocks are still at new highs. As shown below, a market cap weighted index of the four stocks has also more than erased what in this case was a 7% pullback and is also trading at new highs today. So much for the death of FANG.

 

vix has closed in the single digits ten times so far in 2017. the previous 27 years combined (since 1990) it was 9 times.

today also marked the vix 4th consecutive close under 10 ... that's only happened one other time in its history (1993). if it happens again tomorrow that would be a new record

 

busy earnings calendar incoming

here are some of the companies reporting after the close today:
($QCOM $AXP $TMUS $AA $STLD $SRPT $KMI $URI $CP $PTC $BXS $SLM $AEHR $CHRW $TSC $DWCH $BHLB $PLXS $GBNK)


...and before the market open tomorrow morning:
($BX $ABT $KEY $NUE $SHW $PM $SNA $UNP $BBT $CHKP $PII $TRV $SAP $DOV $ADS $ABB $DHR $MNRO $GPC $BK $PPG)

 

nasdaq looking to close up for its 9th consecutive day here ... it did a 10-in-a-row back in feb. 2015 ... after that you'd have to go back to 2009 when it did 12, and then 1992 when it did 13 ... the longest win streak ever for the nasdaq is 19 back in 1979



here is the list of all 9+ day winning streaks for the nasdaq and the % change on the day the streak ends, as well as the % change the next day, next week, and next month



pretty impressive overall eh?