Bulls Breakout into Blue-Sky Territory

MARKET SUMMARY

U.S. markets made another run to fresh all-time highs on Tuesday with the Nasdaq leading the way after gaining 1.1%. The index is just 2% away from challenging the 7,000 level following today’s dash to 6,862. The Dow and S&P 500 rose 0.7% while clearing 2,600 and 23,600 on their way to record highs before closing slightly below these levels. The Russell 2000 extended its win streak to 4-straight after surging 1% while tapping a lifetime high just south of the 1,520 level.

TRADE OF THE DAY
THE ZEN OF TRADING Part II
ANALYST UPGRADES / DOWNGRADES 

Deere (DE) upgraded to Outperform from Neutral at Baird
T-Mobile (TMUS) upgraded to Buy from Hold at HSBC
Urban Outfitters (URBN) upgraded to Overweight from Neutral at JPMorgan

Alio (ALO) downgraded to Underperform from Outperform at Raymond James
Southwestern Energy (SWN) downgraded to Neutral from Buy at Mizuho
Teradyne (TER) downgraded to Hold from Buy at Deutsche Bank

EARNINGS

Wednesday's scheduled earnings include:

Chemical & Mining (SQM), Deere & Company (DE), Frontline (FRO), SeaDrill (SDRL), StealthGas (GASS)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am

Durable Goods Orders - 8:30am

Jobless Claims - 8:30am

Bloomberg Consumer Comfort Index - 9:45am

Consumer Sentiment - 10:00am

FOMC Minutes - 2:00pm

METALS / OIL

Gold closed at $1,281.70 an ounce, up $6.40

Silver settled at $16.96 an ounce, up $0.12

Copper finished at $3.13 a pound, up $0.04

Crude Oil closed at $57.09 a barrel, up $0.67

ARTICLE OF THE DAY
Limit Orders - A Key Component to Good Entries

A limit order is an order to buy a security at no more than a specific price, or to sell a security at no less than a specific price... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

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