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Evening Stock Watch-List: June 19, 2019

Stock Watchlist: June 19, 2019

June 19, 2019

Hello there! Below is your edition of this evening’s watch-list. We hope you have a great trading day tomorrow! 

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Futures At A Glance

DOW S&P 500 NASDAQ BITCOIN GOLD

+4 (.02%)

+.50 (.02%)

+5.25 (.07%)

-5.0 (-.05%)

+2.6 (+.19%)

S & P 500

“After today’s rally, S&P 500 needs a gain of just 1.3% to hit new all-time high. Dow needs +1.8%, Nasdaq +2.8%.”
 

I want to focus on an overall market index to highlight tomorrows action that could happen depending on what the Fed decides to do with rates. Fed chairman Powell will announce the Fed’s decision at 2 pm est tomorrow. According to analytics there is a 27% chance the fed raises rates tomorrow, and a 70% chance they raise rates in July. However, we have seen markets make an incredible tear to the upside over the last two weeks in anticipation of raise and I do worry about a potential heavy sell off from markets if they decide to not cut rates. If rates are cut, it’s a no brainer move to all time highs and then some from all three major indexes. If rates are nuetral its an absolute crap shoot, as many will state it was expected and continue to look forward to July. However, this is where there could be the most volatility, as any large selling push on a neutral decision could trigger algo’s and really pull back markets heavily.

VBIV

VBI Vaccines Inc. ($VBIV) is a Biotechnology company in the Healthcare sector. This low-float penny stock plunged Monday morning after the company released unfavorable late-stage Hepatitis B Vaccine Trial results. However, there was some ownership buying of shares today, pushing the stock up towards the $0.80 level. I plan to day trade this over the $0.80 natural resistance level for the trend reversal! 

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– George S. Patton

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