November 22, 2017

The NightCap

Daily-Wrap

The Market: An initial gap higher was immediately sold but an afternoon surge helped the Dow, S&P and NASDAQ finish higher while greatly paring losses in the Russell 2000.  Downside momentum seems to be waning and today’s mixed session is likely pointing to a bottom.  In all likelihood that bottom will only be short-term but we will have to see how the action takes place. Ideally, for the start of a move higher, we would like to see a gap down (or strong move lower in early trading) tomorrow which takes us near or below today’s lows which is again…

Higher inflation ahead of Fed

Daily-Wrap

Index & Sector performance 6/17/14 The Market: In today’s Economic news, CPI came in higher than expected while the Building Permits and Housing Starts were below estimates.  The initial reaction off this data sent the S&P 500 futures trading lower but ultimately the index bottomed before the open and continued higher the remainder of the day. Checking the WSC scoreboard the Russell 2000 led the charge while the other indices closed flat or slightly higher.  In individual sectors, the Financials (XLF) posting a 1.02% gain and the Retailers (XRT) finishing up 0.87% were the strongest groups.  In the Financials, MetLife…