Dow Jones Industrial Average Stares Down 200-Day Moving Average

Can Amazon Hit $650?

by Josh Selway

Published on Jul 31, 2015 at 8:47 AM

As a busy week comes to an end, futures on the Dow Jones Industrial Average (DJIA) are pointed lower. With the blue-chip index currently up 1% for the week -- and 0.7% for the month -- the Dow could do battle with its looming 200-day moving average, docked at 17,768.01, in today's session. This trendline hasn't been bested on a daily closing basis since last Wednesday, July 22.

Meanwhile, traders continue to consider yesterday's gross domestic product (GDP) miss, and weigh the odds of a September rate hike following the Federal Open Market Committee's (FOMC) Wednesday statement on the economy. As far as today's data goes, the employment cost index (ECI), the Chicago purchasing managers index (PMI), and the Thomson Reuters/University of Michigan consumer sentiment index will all be revealed. 

 

Continue reading for more on today's market, including:

And now, on to the numbers…

150731Futures

Futures on the Dow Jones Industrial Average (DJIA) are roughly 7 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 931,308 million call contracts traded on Thursday, compared to 468,036 put contracts. The resultant single-session equity put/call ratio dropped to 0.50 -- its lowest since June 10 -- while the 21-day moving average remained at 0.67.

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Currencies and Commodities

  • The U.S. dollar index is down 0.2% at 97.37.
  • Crude oil is off 1.9% at $47.61 per barrel.
  • Gold is down 0.8% at $1,079.90 per ounce. 

 

150731Commodities

 

Earnings and Economic Data

 

The ECI, Chicago PMI, and consumer sentiment data headline today's economic roster. As for earnings, the week closes out with Exxon Mobil (XOM), Immunogen (IMGN), Phillips 66 (PSX), Royal Caribbean (RCL), Seagate Technology (STX), and Tyco International (TYC). 

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including China's worst month in years, read Overseas Trading: Shanghai Stocks Wrap Up Brutal July

 

Unusual Put and Call Activity

 

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