March 19, 2024

QQQs lose 2% – now sit on 50 day SMA

Index & Sector performance 9/25/14 The Market: Strong down session across the board which saw the NASDAQ (QQQ) lead the way lower finishing down over 2%.  QQQ was hurt by Apple (AAPL) which is reportedly facing consumer issue regarding its new iPhone6 and iOS but some media outlets also pointed to concerns over rates and Russia as causes for trader pessimism. The Dow (DIA) and QQQ are now sitting on their 50 day SMA’s while the S&P 500 (SPY) lost its 50 as of today.  With one day left in the trading week it will be interesting to see how…

Financial earnings remain focus for week

Index & Sector performance 7/14/14 The Market: All four major indices on the WSC Scoreboard finished equally higher in today’s action.  We continue to be most interested in the Russell 2000 (IWM) and the fact that the Small Caps are not enjoying as solid of a year as the other major indices.  We ultimately believe for further gains the small caps need to be involved. In individual sectors the WSC Scoreboard was led by Energy (XLE) which finished up 0.87%.  Also finishing higher on the WSC Scoreboard was the Financials (XLF) which saw Citigroup (C) beat earnings this morning and…

A flat day across all the major indices

Index & Sector performance 10/28/13 The Market: A fairly lack luster day as the broad indexes chopped around with the S&P and Nasdaq closing positive while the Dow and Russell lagged.  Early optimism in the S&P was quickly sold in early trading but the market was able to hold and press to new highs until a late day sell off which sent the S&P back toward unchanged for the day. In economic data we saw Capacity Utilization Rate and Industrial Production month over month beat expectations while pending home sales greatly disappointed posting a -5.6%.  Tomorrow will be a much…