April 27, 2024

S&P 500 holds 200 day SMA

The Market: Sorry no comments tonight — traveling the remainder of this week.      Reporting EPS After the Close this week:   Reporting EPS Pre-Market this week:   Analyst Comments:

Tech & Small cap trend change?

Index & Sector performance 9/3/14 The Market: While the Dow (DIA) and S&P 500 (SPY) closed essentially flat, the Nasdaq (QQQ) and Russell 2000 (IWM) both finished decisively lower.  In addition the technical action in both the QQQ and IWM is concerning as both started the day gaping above the previous day’s highs to only then sell off the remainder of the day finishing below the previous day’s lows.  Those into candlestick charting will recognize this as an Engulfing pattern and can signal a change in trend. In individual sectors it the Utilities (XLU) leading the charge finishing the day…