Wednesday March 20th, 2019 Newsletter - free

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Table of Contents:

1. General Market Analysis: SPX and Other Major Indices

2. Indicators and  Bonds (TLT/HYG)

3. Major Sectors

4. US Dollar, Commodities, Precious Metals and GDX

5. Trade Ideas - remain nimble and respect your triggers and then employ proper stops

Despite the wild market gyrations following the FOMC, the market indexes still formed lower highs (remember the symmetry break we discussed yesterday)

FED Statement: Dovish

Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter. Payroll employment was little changed in February, but job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Recent indicators point to slower growth of household spending and business fixed investment in the first quarter. On a 12-month basis, overall inflation has declined, largely as a result of lower energy prices; inflation for items other than food and energy remains near 2 percent. On balance, market-based measures of inflation compensation have remained low in recent months, and survey-based measures of longer-term inflation expectations are little changed.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective as the most likely outcomes. In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

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Major Indexes Index Symbol ETF Symbol % G / L Day % G / L Week Close
Dow JonesINDU - WDIA - W -0.55% -0.40% 25,745.67
S&P 500SPX - WSPY - W -0.29% 0.06% 2,824.23
Wilshire 5000WLSH - W -0.33% 0.02% 29,200.55
NasdaqCOMPQ - W 0.06% 0.53% 7,728.97
NDX 100NDX - WQQQ - W 0.43% 1.01% 7,380.75
Russel 2000 (Small Caps)RUT - WIWM - W -0.76% -0.67% 1,543.16
Market Sectors Index Symbol ETF Symbol % G / L Day % G / L Week Close
TransportsTRAN - WIYT - W -1.30% -1.62% 10,143.26
BanksBKX - W -3.02% -3.04% 96.98
FinancialsXLF - W -2.06% -1.84% 26.14
BrokersXBD - W -1.96% -1.61% 258.59
XLE (Energy Select)XLE - W 0.88% 2.00% 66.82
Oil Service HoldersOIH - W 1.72% 4.47% 17.75
TechnologyXLK - W -0.27% 0.36% 73.25
SemiconductorSOX - WSMH - W -1.02% 0.05% 1,393.01
Communication Services XLC - W 0.90% 0.21% 47.12
RetailXRT - W -0.90% -0.63% 44.13
Consumer StaplesXLP - W -0.42% -0.35% 54.51
Consumer DiscretionaryXLY - W 0.14% 1.62% 112.39
IndustrialsXLI - W -0.69% -0.08% 73.93
Real EstateIYR - W 0.33% -0.52% 84.96
HomebuildersHGX - WXHB - W -0.56% -1.14% 282.33
MaterialsXLB - W -0.09% 0.02% 55.41
Metals And MiningXME - W -0.07% 0.57% 29.75
GDX Gold Miners ETFGDX - W 2.26% 1.48% 22.63
BiotechnologyBTK - WXBI - W -0.72% -0.86% 5,102.01
HealthcareXLV - W -0.69% -0.05% 91.94
DrugsDRG - W 0.00% 0.65% 600.60
UtilitiesUTIL - WXLU - W 0.35% -1.08% 770.92
Currencies Index Symbol ETF Symbol % G / L Day % G / L Week Close
US DollarUUP - W -0.58% -0.81% 25.59
EuroXEU - WFXE - W 0.56% 0.58% 114.15
YenXJY - WFXY - W 0.64% 0.72% 90.36
AustralianXAD - WFXA - W 0.36% 0.35% 71.15
British PoundXBP - WFXB - W -0.44% -0.69% 132.07
Chinese YuanCYB - W 0.50% 0.46% 26.22
Canadian DollarCDW - WFXC - W 0.12% 0.32% 75.16
Swiss FrancXSF - WFXF - W 0.71% 1.02% 100.78
Commodities Index Symbol ETF Symbol % G / L Day % G / L Week Close
CommoditiesDBC - W 0.75% 1.51% 16.16
Crude OilWTIC - WUSO - W 1.59% 2.92% 60.23
GasolineGASO - W 1.21% 2.13% 1.90
Natural GasNATGAS - WUNG - W -1.88% 0.89% 2.82
CopperCOPPER - WJJCB - W -0.07% 0.52% 2.92
AgricultureDBA - W 0.24% 0.06% 16.69
CornCORN - WCORN - W 0.07% -0.47% 371.50
WheatWHEAT - WWEAT - W 1.81% 0.54% 464.75
CoffeeBJO - W -2.04% -3.06% 41.78
SugarCANE - W 0.27% 2.04% 7.50
Precious Metals Index Symbol ETF Symbol % G / L Day % G / L Week Close
Gold MetalGLD - W 0.65% 0.98% 124.18
SilverSLV - W 0.97% 1.47% 14.54
PlatinumPPLT - W 1.63% 4.32% 82.13
PalladiumPALL - W 0.52% 2.83% 152.13
GDX Gold Miners ETFGDX - W 2.26% 1.48% 22.63
Bonds Index Symbol ETF Symbol % G / L Day % G / L Week Close
High Yield Corporate BondHYG - W 0.43% 0.45% 86.17
TLT 20 Year Bond ETFTLT - W 1.05% 0.76% 122.68
10 Year Treasury YieldTNX - W -3.02% -2.24% 25.35
30 Year Treasury YieldTYX - W -1.75% -1.49% 29.75

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Week of March 18 - March 22
Date ET Release For Actual Briefing.com Forecast Briefing.com Consensus Prior Revised From
Mar 18 10:00 NAHB Housing Market Index Mar 62 64 63 62
Mar 19 10:00 Factory Orders Jan 0.1% 0.3% 0.2% 0.1% --
Mar 20 07:00 MBA Mortgage Applications Index 03/16 1.6% NA NA 2.3%
Mar 20 10:30 EIA Crude Oil Inventories 03/16 -9.6M NA NA -3.9M
Mar 20 14:00 FOMC Rate Decision Mar 2.375% 2.375% 2.375% 2.375%
Mar 20 14:30 Fed Chair Press Conference Mar NA NA NA
Mar 21 08:30 Initial Claims 03/16 226K 223K 229K
Mar 21 08:30 Continuing Claims 03/09 NA NA 1776K
Mar 21 08:30 Philadelphia Fed Index Mar 3.0 6.0 -4.1
Mar 21 10:00 Leading Indicators Feb 0.2% 0.2% -0.1%
Mar 21 10:30 EIA Natural Gas Inventories 03/16 NA NA -204 bcf
Mar 22 10:00 Existing Home Sales Feb 5.20M 5.10M 4.94M
Mar 22 10:00 Wholesale Inventories Jan NA NA 1.1%
Mar 22 14:00 Treasury Budget Feb NA -$227.0B -$215.2B

Economic Calendar

Stock Earnings Calender:

Click here for a list of Stocks that are reporting Earnings

**Generally we never hold a position into earnings since the risk/reward is too great

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BPT MA DELUXE

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