June 22, 2018

Sharp snap back rally — SPY up YTD

Index & Sector performance 3/12/15 The Market: Strong performance today with the Russell 2000 (IWM) leading the charge for the 2nd straight day followed by the Dow (DIA) and S&P 500 (SPY).  Friday will be an interesting session as traders will have to decide how they want to end the week.  In the very short term the SPY looks stretched so we would consider using a gap up tomorrow morning as a (very) short-term selling opportunity. In individual sectors it was the Financials (XLF) which led the way finishing up 2.13% followed closely by Consumer Discretionary (XLY) which ended up…

QQQ & IWM reach new highs

Index & Sector performance 2/26/15 The Market: More churn today in the markets but again the NASDAQ (QQQ) and Russell 2000 (IWM) showed more strength than the S&P 500 (SPY) with the QQQ and IWM reaching new 52-week closing highs on the session. Crude oil lost over 5% today which helped send the Energy (XLE) sector 1.88% lower.  We noted in our 2/18/15 nightly recap when the XLE was trading above $81 that we would look for a pullback toward $78 as a buying opportunity.  Closing today at $79.35, we would ideally like to see lower levels before dipping into…

Slow grind higher to start Holiday week

Index & Sector performance 12/22/14 The Market We expected even lighter volume today then we saw but it was still much lighter than the previous sessions.  We would not be surprised to see the market continue to drift higher in a choppy manner throughout the holiday trading session and into the New Year. Tomorrow is the heaviest day for Economic data but we are not expecting fireworks.  If we do see a pullback we would expect it to be a buying opportunity for short term traders.       Reporting EPS 12/23/14 Pre-Market: Big name reporting tomorrow before the open…