September 21, 2018

The NightCap

The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting.  As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often  look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…

Huge intraday swings

The Market: As expected, volatility continues and while we would not expect 100 point S&P days to become a common occurrence we do expect to see sharp swings both up and down. Our current expectation is that the market will ultimately revisit this morning’s lows is not make new lows but in the short-term the market is very oversold and should stage some sort of rally — not just intraday like today but on a closing basis over a few days.  That rally will be very telling and if weak we could be setting up for much much lower and…

China’s action spills into global markets

The Market: Stocks opened lower after China suffered its worst losing day in over 8 years but the S&P managed to find a bottom right at the 200 day SMA and has so far rallied off the lows with upside action continuing into the after market.  It will be interesting to see how China’s market reacts today and if the S&P can keep the momentum going through the overnight trading and into tomorrow’s open. Also don’t forget we have the FOMC Rate decision and Statement on Wednesday the 29th (full Economic Calendar below). Leading to the downside in today’s session…

Eurozone fears trigger late day sell-off

Index & Sector performance 2/4/15 The Market: Monday’s reversal in the S&P 500 (SPY) of the 200 day SMA continued Tuesday and was extending in today’s session, even with Oil trading lower, until later in the trading day when the index dropped sharply.  Traders pointed to news our of Europe that the ECB will not allow Banks to use Greek government debt as collateral for loans as the catalyst.  The Dow (DIA) was the only index on the WSC Scoreboard which managed to finish higher but that was greatly due to Disney (DIS) beating EPS and finishing up 7.63% on…

Off the 200 Day and up

Index & Sector performance 2/2/15 The Market: The S&P 500 (SPY) started the session lower but found support just slightly above the 200 day SMA which has not been visited since October 2014.  After an initial pop and then pullback the index rallied the remainder of the session to finish over 30 points off the lows.  So far in the after hours the index is holding the gains and consolidating.  Today’s action should be very promising for long traders and you know your stops — below today’s lows. The leading sector on the WSC Scoreboard was Energy (XLE) finishing up…

Low volume give back after 3 solid days

Index & Sector performance 10/22/14 The Market: Today marked a give back after 3 solid days of gains.  The leader to the downside was the index that we have been watching closely for the past few weeks, the Russell 2000 (IWM).  The IWM’s underperformance throughout the year was a warning just as its outperformance near the recent bottom.  The IWM has put in work to find a bottom and start to move off the lows of last week but it is not our of the woods yet in our opinion.  First step is remaining above $107 and then the lows…

Tech and HealthCare EPS lead

Index & Sector performance 7/23/14 The Market: Today the stand out index was the NASDAQ (QQQ) which finished 0.64% higher with a lot of help from Apple (AAPL) which finished the day up 2.61% after reporting EPS yesterday after the close.  The S&P 500 (SPY) and Russell 2000 (IWM) were relatively flat, while the Dow (DIA) was the clear laggard and the only index to finish down on the session.  Weighing on the Dow was Boeing (BA) and Caterpillar (CAT) which finished down 2.34% and 1.53% respectively. In individual sectors it was HealthCare (XLV) which shined helped immensely by Intuitive…

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…

Strong sell off starts week

Index & Sector performance 2/3/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: EMR, ETN, ADM, CME, SE, HCA, SIRI, IP, BDX, MHFI, DLPH, BSX, KORS, FIS, CLX, AMG, SEP   Analyst Comments:         The Game Plan:

Decline….What Decline?

Index & Sector performance 1/15/14 The Market: The vast majority of today’s action was on the open where the S&P 500 gaped higher and ran until 11am EST which marked the highs of the day.  The remainder of the day stayed in a 5 point range from the 11am highs as the market digested the strong reversal rally which has gained roughly 35 S&P points since Monday’s lows. In Economic Data, Headline PPI slightly missed expectations while Core PPI beat.  The Beige Book reiterated an overall positive outlook on the economy showing moderate growth.  Tomorrow traders will be most focused…