That Churning Feeling

Profit from the Pros That Churning Feeling Stocks were enjoying some time in the sun above 2100 until the Brexit storm clouds emerged last week pushing the S&P as low as 2050. The most recent polls show that Britain will likely remain in the EU giving a lift to stocks around the globe. However, in the US we hit resistance at 2100 pretty hard. This has led to another classic rotation period. That is where the market has no clear leadership. Money just churns from group to group with no apparent rhyme or reason. This explains the big gap between large and small caps on Tuesday. Or why energy did so well while biotechs got hammered. Don't be surprised if these moves are reversed soon all the while the market indices are little changed. Most consolidation periods end with stocks returning to the trend from before the congestion. If that holds true here, then stocks should be ready to break above 2100. The final proof of a Brexit stay vote on Thursday may be all that is needed for that feat. Breaking to new record highs above 2135 will need higher octane fuel. Again, I think that will be found in the economic calendar in early July (with special emphasis on employment). More aggressive traders should have their plans ready to ride the break in either direction as it is likely to have some staying power. Best, , Zacks Investment Research Sponsor [Are We Heading Into a Bear Market?] Strong evidence suggests that the aging 7+ year bull is on its last leg. The time to protect yourself is NOW, before the market drops through the floor. Zacks has created a Bear Market Game Plan to help you recognize the signs, prepare in advance, and actually profit from the coming downturn. Last time the bear struck, it wiped out 58% of the stock market's value. Investors were devastated. Retirements were postponed for years. Make sure this one doesn't catch you by surprise. Deadline to receive our urgent Special Report is Sunday, June 26. [Download Zacks' Bear Market Game Plan Free >>] Most Popular Articles from Zacks.com [What's Your Stock's Price Target?] Kevin Matras explains how to calculate a stock's price target and how to find stocks currently trading below them. Highlighted stocks include BANC, CRUS, LKQ, NWL and PRFT. [Read More »] [Brexit 101: 7 Ways to Trade the Vote on Thursday] The Brexit referendum will finally come on Thursday. Here are 7 ways to trade the vote. [Read More »] [Oil & Gas Stock Roundup: Marathon Oil to Buy PayRock Energy, Pioneer Expands Midland Footprint] Marathon Oil (MRO) is set to buy PayRock Energy for $888 million, while Pioneer Natural Resources (PXD) will acquire properties worth $435 million in the Midland Basin acreage. [Read More »] [Brexit: What the Average Joe Needs to Know] Not the name of a new Gothic night club opening up downtown, but the abbreviation for Great Britain's exit from the European Union. No doubt you've recently heard a lot about it. Here's what you need to know about Brexit. [Read More »] [5 Low PE Stocks with Great Growth Prospects] We have picked five stocks that have a P/E ratio of less than 12, boast a favorable Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy) and carry a Growth Style Score of "A" or "B". [Read More »] [5 Strong Buy Small-Cap Growth Mutual Funds] Risk taking investors, who give precedence to capital appreciation over dividend payouts, may consider small-cap growth mutual funds to derive healthy returns. [Read More »] Sponsor [What's Today's Top Rated Mutual Fund?] Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family. [Get started now>>] [Bull of the Day: Zendesk (ZEN)] Customer service software is a hot field and ZEN serves this week's hot tech IPO, Twilio. [Read More »] [Bear of the Day: Skyworks Solutions (SWKS)] As we contemplate "peak iPhone" demand, analysts continue to knock estimates down for this key supplier. [Read More »] [New Zacks Strong Buys for June 22] Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »] [Customize Your Profit from the Pros Delivery] Connect with Us: [Facebook] [Twitter] [StockTwits] Contact Info: Phone: 1.800.767.3771 ext. 9339 Email: [support@zacks.com] [Terms] | [Privacy] | [Unsubscribe] [Zacks] You are registered to receive this "Profit From The Pros" e-mail newsletter at {EMAIL}