Scalper1 News
Major averages fell on lower, below average volume. Selling pressure was due to the soft slide in oil prices and Fed President Rosengren’s hawkish remarks that expectations of one or zero interest rate hikes in 2016 might be “too pessimistic”, suggesting a push for higher rates. Of course, Yellin’s dovish testimony suggested the global economy must show signs of recovery before the Fed hikes rates, and such signs may be further off than expected. FOMC minutes are due out Wednesday at 2 pm ET. Futures are down more than half a percent with the European markets down more than 2% on a disappointing Factory Orders report from Germany (-1.2% month-over-month; expected 0.2%). Airline stock Hawaiian Holdings (HA) had a pocket pivot. Earnings are skyrocketing, ROE 46.5%, group rank 38. On uptrends, HA tends to obey its 10-day moving average without any violations. A violation occurs when a stock closes below its moving average then trades on a subsequent day below the low of that day. Scalper1 News
Scalper1 News