US equity indexes are set for two hours of micro chop, ahead of the 2pm press release from Print central. Cyclically, the setup will favour the equity bears, especially from 2.30pm onward - when Yellen will start babbling. VIX looks highly vulnerable to a sporadic burst into the 11/12s.
A new historic high of 2671.52. Regardless, price action should essentially flat line across the next two hours. As ever, the initial reaction from the fed press release is usually not the direction the market will be trending into the close.
notable stock: SWKS, Skyworks solutions, daily
Skyworks is not a company I have followed. Technically, the stock has had a really rough time since the spike high of Nov'6th in the $117s, cooling to the 97s. With an FPE in the 12s, a yield of 1.3%, and a net margin of 27.7%, this looks interesting. Needham and Drexel are both seeking >120, which isn't a stretch considering that only takes the stock back to just above Nov' levels!
notable strength, JD, daily
Stifel have issued a price target of $48, and that is helping to inspire mainstream buying today. I will note, Stifel have a lousy track record (they liked APRN and SNAP this summer). The more cautious will stick to BABA, which has proven sig' profitability.
time to check on the cheerleaders...