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Markets are struggling for direction today behind underwhelming Netflix guidance and a troubling IBM earnings report. Apple and Qualcomm headline today’s news after settling all outstanding disputes the two rivals had in three continents, creating slight gains for Apple while Qualcomm shares soared, currently up over 10%. Other major earnings in play today include PepsiCo, Bank of New York Mellon, and Morgan Stanley. Recent China data showed the world’s second-biggest economy stabilizing in the first quarter of 2019 while Euro markets are also up today. With the market still above its 200-day moving average, continue monitoring seasonality charts for market trends as we remain on pace to retest 52 weeks high for SPY, $294. Support remains at $280-$284.For reference, the SPY Seasonal Chart is shown below:
Apple and Qualcomm reached a surprise settlement to settle their multiple legal disputes causing shares of both companies to profit though details of the deal have certainly helped Qualcomm to much larger gains. Shares of Qualcomm soared over 20% yesterday when news that Apple will pay a settlement dispute as well as move forward with Qualcomm as their modem chip maker. Supringsly, right after this news broke Intel announced they would not be selling smartphone modem chips, the 5G-type Apple was looking to implement in its new iPhones. Intel shares rose modestly to this news, currently up 3%.
Major U.S. earnings in focus today include Pepsico and Morgan Stanley, both up slightly behind decent earnings reports while Bank of New York Mellon Corp. saw share plummet nearly 10% behind poor earnings. United Continental Holdings rode decent earnings yesterday to gains both yesterday and today, E*Trade Financial will report after market close. Looking ahead, Phillip Morris, Honeywell, and American Express report tomorrow with Haliburton, Twitter, and Coca-Cola set to report next week. Also worth noting, yesterday’s Netflix earnings saw the streaming platform record slight gains which were quickly erased today as the company is on track to close slightly lower. Netflix presented strong subscription numbers, up 16% from last year’s first quarter, though guidance for 2019 second quarter was lowered, causing some concern.
Globally, Asian and European markets recorded decent gains behind stabilizing conditions. U.S.-China trade talks remain on track for a deal while the recent EU-granted Brexit extension allows the U.K. more time to come to a divorce agreement. China’s economy looks to be stabilizing behind positive first quarter data that returned better than expected. Today, U.S. Fed released its latest Beige Book, covering the economic condition of the U.S. throughout its 12 regional Fed banks. Look for more data on this in tomorrow’s Market Commentary as details continue to be made public.
Using the “^GSPC” symbol to analyze the S&P 500, our 10-day prediction window shows negative signals. Today’s vector figure of -0.04% moves to -1.21% in five trading sessions. The predicted close for tomorrow is 2,895.80. Prediction data is uploaded after the market close at 6 pm, CST. Today’s data is based on market signals from the previous trading session.
On April 12th, our ActiveTrader service produced a bullish recommendation for Sysco Corp (SYY). ActiveTrader is included in all paid Tradespoon membership plans and is designed for day trading.
Trade Breakdown
SYY entered its forecasted Strategy B Entry 1 price range $68.12 (± 0.12) in its first hour of trading and passed through its Target price $38.80 in the last hour of trading that day. The Stop Loss price was set at $67.44.
See action from Monday’s Live Trading Room and how we trade this volatile market, as well as what you can expect in our next Live Trading Room. During this session, we recorded 6 of 6 winning trades, ranging from 8% to 50% ROI!
| C (Option) | 38.89% |
| DFS (Option) | 14.93% |
| HES (Option) | 42.86% |
| DFS | 50.00% |
| DFS (Option) | 8.70% |
Our Live Trading Room is open every trading day from 9:15 am Eastern Time, Live Trading Sessions are only available for Premium Members.
We wanted to share the recording with you so you can see the profits you might be missing- even during volatile markets: Watch Now!
*Please note: Our featured stock is part of your free subscription service. It is not included in any paid Tradespoon subscription service. Vlad Karpel only trades his own personal money in paid subscription services. If you are a paid subscriber, please review your Premium Member Picks, ActiveTrader or MonthlyTrader recommendations. If you are interested in receiving Vlad’s personal pick, please click here.
Our featured stock for Thursday is Xilinx Inc. (XLNX). XLNX is showing a confident vector trend in our Stock Forecast Toolbox’s 10-day forecast. This stock is assigned a Model Grade of (B) indicating it ranks in the top 25th percentile for accuracy for predicted support and resistance, relative to our entire data universe.
The stock is trading at $35.62 at the time of publication, with a +0.69% vector figure.
Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
Note: The Vector column calculates the change of the Forecasted Average Price for the next trading session relative to the average of actual prices for the last trading session. The column shows expected average price movement “Up or Down”, in percent. Trend traders should trade along the predicted direction of the Vector. The higher the value of the Vector the higher its momentum.
West Texas Intermediate for May (CLK9) is priced at $63.74 per barrel, down 0.48% from the open, at the time of publication.
Looking at USO, a crude oil tracker, our 10-day prediction model shows mixed signals. The fund is trading at $13.29 at the time of publication, down 1.00% from the open. Vector figures show +0.09% today, which turns -0.70% in five trading sessions. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
The price for June gold (GCM9) is down 0.06% at $1,276.30 at the time of publication.
Using SPDR GOLD TRUST (GLD) as a tracker in our Stock Forecast Tool, the 10-day prediction window shows mostly negative signals. The gold proxy is trading at $115.54, up 2.36% at the time of publication. Vector signals show +0.02% for today. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
The yield on the 10-year Treasury note is down 0.07% at 2.59% at the time of publication. The yield on the 30-year Treasury note is down 0.23% at 2.99% at the time of publication.
Using the iShares 20+ Year Treasury Bond ETF (TLT) as a proxy for bond prices in our Stock Forecast Tool, we see negative signals in our 10-day prediction window. Today’s vector of -0.47% moves to -1.46% in three sessions. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
The CBOE Volatility Index (^VIX) is up 4.02% at $12.67 at the time of publication, and our 10-day prediction window shows positive signals. The predicted close for tomorrow is $13.04 with a vector of +5.20%. Prediction data is uploaded after market close at 6 p.m., CST. Today’s data is based on market signals from the previous trading session.
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