Daily Wrap
DJIA +128.78 (+0.88%) to 14,802.24; S&P 500 +19.12 (+1.22%) to 1,587.73; NASDAQ +54.54 (+1.94%) to 2,859.21 Gap and go explains today’s action as we gaped higher on the open and then rallied the remainder of the day with the S&P 500 closing up over 1.2%. No need to spend anymore on the that. No real big news on the Economic front today but tomorrow we have Unemployment Claims tomorrow with the consensus forecast I saw of 362K. Coming of that poor Job numbers, I think this will be watched closely and I will update the site with the number when it comes out…
Week in Review
DJIA +90.54 (+0.63%) to 14,512.03; S&P 500 +11.09 (+0.72%) to 1,556.89; NASDAQ +22.40 (+0.70%) to 3,245.00 As some pessimism laid way to optimism regarding the Cyprus situation and at least got our of the market’s way to press higher near 1% for the day. What was also positive to see was the line-up with the S&P 500 and Nasdaq leading instead of the Dow (broader based rally). The stock of the day was no doubt Nike (NKE) in my opinion. Thursday evening after the close NKE posted Q3 EPS of 73c vs estimates of 67c on revenue that met expectations of $6.2B. The company…
Daily Wrap
DJIA +3.76 (+0.03%) to 14,455.82; S&P 500 -3.76 (-0.24%) to 1,548.34; NASDAQ -8.49 (-0.26%) to 3,229.10 The continued trepidation and negativity stemming from the Cyprus debacle was in focus today as the markets tried to start with a strong open only to lay way to a strong decline which finally found buyers after just dipping below the R1 support in the futures which provided initial support and then went down to back test. After a slight dip below the R1 level, the market had positive divergence on the 5 minute futures chart and that ultimately did prove to be the lows as the market…
Daily Wrap
DJIA +67.12 (+0.49%) to 13,779.33; S&P 500 +2.25 (+0.15%) to 1,494.81; NASDAQ +10.49 (+0.33%) to 3,153.67 All in all today was a nothing as we started around flat and stayed flat the majority of the day until we (again) rallied into the close after lunch. After the close we had Apple Computers (AAPL) report earnings which slightly beat EPS estimates but slightly missed on revenues. The futures dropped at the same time as AAPL reported and started to decline and now stand down about 7 points as I write. Apple (AAPL) clearly is driving discussion after the close and it…