Stock Market Early Morning Insights – May 27, 2016

Stock Market Early Morning Insights – May 27, 2016

Yesterday was a quiet day for stocks as the long Memorial Day Weekend approaches. The headlines, of course, tell us that traders are hesitant to add positions while they wait for the latest directive from Janet Yellen on interest rate increases, and the pace of the increases.

Semiconductor stocks held up well, and more conservative groups, Utilities, REITs and Consumer Staples showed strength. Some of the oil related groups backed off as traders took profits, and evidently feel that prices have gone too far, too fast, and supply will come back into the oil market if more drillers go back on line.

The major indexes stalled, but closed in the upper portion of their daily ranges, and some generated a No Supply flag. This is because volume was light and the indexes closed in the upper part of their ranges. Had they closed in the lower part of the daily ranges, a No Demand flag may have been generated Internals were slightly negative with very little happening because of the approaching holiday.

Google won its copyright infringement suit filed by Oracle, which may boost the Google stocks today.

Stock futures are slightly positive today like they normally are going into holiday weekend. Oil futures have backed off slightly.

Have a safe and fun holiday weekend.


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