NDW Morning Pulse
Below are highlights from the NDW Morning Update Video for the morning of 8/19. Access the video on the NDW Morning Update Video page.
- US equity futures are roughly flat this morning after the S&P was down for a third consecutive day yesterday.
- Semiconductors were among the biggest laggards as the iShares Semiconductor ETF (SOXX) was down a shade under 5%.
- About 55% of the stocks in the S&P 500 (SPX) finished the day in the red and there 175 52-week lows on the NYSE, the most since March. That said, there was no significant movement in any of our major participation indicators.
- Crude oil returned to a buy signal on its default chart on Monday with a double top break at $85. Energy has moved back to the top spot in the DALI commodities rankings.
- Yesterday’s research feature focused on volatility (or the lack thereof) in US equities. The S&P 500 notched its 27th all-time high of the year this week and the VIX fell to 14.25 on its default chart, close to its 52-week low.
- Minutes of the last Fed meeting are due to be released this afternoon. The fed futures market is still pricing in about a 65% chance of a rate hike this year.
- Walmart (WMT) is scheduled to report earnings before the open tomorrow. WMT is currently an acceptable 3 for 5’er. The stock sits on two consecutive sell signals but has recently made a higher low after finding support at $108 and $110. $108 is a key support to watch as it is WMT 2026 low and a level from which it reversed up twice in last month’s trading.
