December 16, 2017

Market continues to rebound

Daily-Wrap

The Market: Stocks continue to chug along after last week’s impressive reversal on Wednesday.  Today was another turn around session which saw the S&P 500 gap down roughly 12 points before firming up in very early trading and then rallying the rest of the session to finish up over 9 points.  Above 2080 in the S&P 500 and it looks like the good times can continue. HealthCare (XLV) was the leader in individual sectors finishing up 1.01% followed closely by Consumer Discretionary (XLY) which closed up 0.96%.  Today’s underperformer was Consumer Staples (XLP) which finished flat on the session hurt…

Weak ADP data helps market gap

Daily-Wrap

The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day…

Tech closes at new 52 week high

Daily-Wrap

The Market: Stocks continue to rebound strongly after a rough week of trading last week.  The NASDAQ (QQQ) led today’s charge finishing at a new 52 week closing high followed by the S&P 500 (SPY) while the Russell 2000 (IWM) and Dow (DIA) lagged. Many individual sectors outperformed in the session with Utilities (XLU), Reatil (XRT), Technology (XLK), and Consumer Staples (XLP) all finishing up over 1%.       Reporting EPS 7/16/15 After the Close:   Reporting EPS 7/17/15 Pre-Market:   Analyst Comments:

Back test of the 20 & down

Daily-Wrap

Index & Sector performance 12/11/14 The Market: Strong optimism in early trading was attributed to better than expected Retail Sales numbers and Unemployment Claims along with the stabilization of oil but in midday trading, after the S&P 500 (SPY) had rallied back to re-test its 20 day SMA, oil started to slide and took the SPY with it.  While the table above shows the SPY up on the session, as it currently stands those gains have been entirely erased in the aftermarket. We will be watching the overnight session to see if the S&P can stabilize, reverse, or if it…

Indices build on week’s gains

Daily-Wrap

Index & Sector performance 8/14/14 The Market: A good up day as all 4 broad indices on the WSC Scoreboard finished the day higher and the Russell 2000 (IWM) is now only X% down on the year.  The concern with this week’s bounce has been and remains to be the declining volume as we continue higher.  However, until the market turns lower and begins taking out support, traders must respect the price action. In individual sectors, leading was HealthCare (XLV) which finished the day up 1.18% continuing to build on the strong week followed closely by yesterday’s laggard, Retail (XRT) which…

FOMC minutes ease market concerns

Daily-Wrap

Index & Sector performance 4/9/14 The Market: After bottoming and bouncing in yesterday’s session, the S&P 500 futures spend the majority of the overnight session consolidating in a tight range.  This lead to an early breakout, retest, and continuation higher but it was after the FOMC minutes were released at 2pm ET when the strongest gains were realized.  Concern the Fed would be aggressive with rate hikes subsided and traders rewarded the market with 1+% gains across the board with the Nasdaq leading the charge up 1.7%.  Next on the economic data schedule is Unemployment Claims which are released at…