September 23, 2018

The NightCap

The Market: Overall it was another tight trading range session but the Russell 2000 (IWM) continued its underperformance and finished down over –1%.  It appears that traders may be on hold until the FOMC statement and rate decision tomorrow. Transportation (IYT) sector was the hardest hit on the WSC Scoreboard as the sector ETF finished down -2.65% followed by yesterday’s biggest loser, Energy (XLE), which closed down -1.2%.  The biggest gaining sector on the session was HealthCare (XLV) which finished up 1.84% and was helped by Allergan (AGN), Biogen Inc (BIIB), Vertex Pharmaceuticals Inc (VRTX), and Mylan NV (MYL) which all…

Low vol narrow holiday trading range

Index & Sector performance 11/25/14 The Market: Another uneventful holiday trading session across all 4 major indices on the WSC Scoreboard.  Action was also muted across the individual sectors with the exception of Energy (XLE) which lost 1.63%.  For XLE traders our take is that the lows may hold but we would either be looking for an opportunity to buy lower or on a break above $89.25. In Economic data, estimated 3rd quarter GDP growth came in better than previously reported while Consumer Confidence and the Richmond Manufacturing Index both missed expectations.  Tomorrow there is a slew of data including…

FOMC rate decision highlights big data week

Index & Sector performance 9/15/14 The Market: The Dow (DIA) was the only index on the WSC Scoreboard to finish higher on the session while the NASDAQ (QQQ) and Russell 2000 (IWM) took a hit losing 0.97% and 1.15% respectively.  Baring any unforeseen news, we would not be surprised to see the markets get quiet until the FOMC rate decision and Statement later in the trading day Wednesday. In individual sectors, Retail (XRT) was the biggest loser on the session finishing down nearly 1% and remains the laggard on the year.  On the upside, Energy (XLE) started off strong after…

Early dip finds interested buyers

Index & Sector performance 7/28/14 The Market: Early moves lower in the broad market indices soon found buyers and managed to finish the day near flat on the session with the Russell 2000 (IWM) continuing to lag.  The DOW (DIA) played MA pinball with the lows in the early session touching the 50 day EMA while the highs of the session back tested the 20 day EMA. The stand out sector from the WSC Scoreboard was the Utilities (XLU) finishing up X% higher on the session.  Every name in the sector ETF was higher and that vast majority were up…