Weak Data & Earnings help drive stocks lower
Index & Sector performance 1/27/15 The Market: While the Dow (DIA) and S&P 500 (SPY) finished down over 1%, it was the NASDAQ (QQQ) which led the session to the downside finishing 2.59% lower. Microsoft (MSFT) was the biggest drain on the QQQ as it finished down 9.25% after a disappointing EPS report and even managed to pull down Apple (AAPL) which finished 3.5% lower on the session. Things may look a little better for the tech sector tomorrow as AAPL is up after hours after reporting EPS. The Russell 2000 (IWM) managed to be the relative winner finishing down…
GDP disappoints but market ignores
Index & Sector performance 4/30/14 The Market: As you can see in the table below, the U.S. Q1 GDP number came in well below expectations. While Q1 was not expected to be a high growth quarter, clearly analysts did not expect a near negative number. Certainly the colder than expected weather could have and likely did play a role but on our opinion you cannot completely blame a miss like this on the weather. So why might traders and investors be willing to look past this data besides the weather? Possibly because a number like this allows the Fed to…
Russell leads Indices lower
Index & Sector performance 3/24/14 The Market: The Bull missed a great opportunity in our opinion when a late day rally stalled and failed to get above the 1856.50ES resistance and they even had the opportunity to close up on the day. Now the 1852-56.50ES region should act as resistance and leaves the door open for an overnight drop toward 1840ES and then further 1827ES. In Economic Data we had Manufacturing PMI come in lighter than expected but the previous number was revised higher . Tomorrow the market will be watching Consumer Confidence and New Home Sales. Reporting EPS…
US Government shuts down and gains open up
Index & Sector performance 10/01/13 The Market: The old market adage Buy the rumor and Sell the news is somewhat in affect here today with the markets reaction to the Government shutdown. As we noted in last night’s Game Plan, with the realization of the shutdown now in affect and the worry of the shutdown gone, short term longs would look for opportunity to trade a bounce. A gap up was quickly consolidated after roughly 30 minutes of trading and then pressed higher until 12:30 pm EST. After 12:30 there was a roll over which took the index down until…
Charts of Interest
Thoughts and analysis are provided on each chart itself or you can go read some quick comments for each at StockTwits (WSConsensus) GMCR, ZIP, GT, DECK, QCOM, AL, AMD, SBUX, EXPD, GTAT, PCLN, TSLA, CIM, CEL, FSLR, RIMM, DISH, ABMD, PANW, RF