December 18, 2018

Early volatility wanes, dull day

Index & Sector performance 6/2/14 The Market: Overall a quiet day in the market if you look at the overall performance but that does not show the early volatility the market saw when the S&P 500 futures dropped roughly 10 points at the open to only “V” bottom and spike back up near where the drop occurred.  After that it was tight trading the rest of the day leaving a small up day in the Dow & S&P with the NASDAQ and Russell 2000 closing on the downside. Today there was some drama around ISM Manufacturing PMI after it was…

FOMC minutes ease market concerns

Index & Sector performance 4/9/14 The Market: After bottoming and bouncing in yesterday’s session, the S&P 500 futures spend the majority of the overnight session consolidating in a tight range.  This lead to an early breakout, retest, and continuation higher but it was after the FOMC minutes were released at 2pm ET when the strongest gains were realized.  Concern the Fed would be aggressive with rate hikes subsided and traders rewarded the market with 1+% gains across the board with the Nasdaq leading the charge up 1.7%.  Next on the economic data schedule is Unemployment Claims which are released at…

Early pop leads to late day drop

Index & Sector performance 3/11/14 The Market: The  market rallied pre-market into the open, pulled back and went again but was unable to break through a pivot confluence resistance area.  The pullback into the noon EST period started to consolidate but the MACD was telling that more downside was likely.  As we reached the 2-2:30 pm EST time frame the S&P again started to weaken and broke to fresh lows for the day. We will be watching for $1860ES and then further $1850ES for support levels.  On the S&P500 cash index the 20 day SMA comes in around $1853. In…

New Year starts with a thud

Index & Sector performance 01/02/14 The Market: The first trading day of the year started in the opposite direction of 2013’s trend with the S&P 500 closing down near 17 points and essentially taking back much of the holiday drift higher that was seen. In economic data Unemployment claims came in worse than expected posting 339K vs. 334K expected.  Last week’s claims were also adjusted slightly higher to 341K from 338K.  The remaining released data either met or exceeded expectations including Manufacturing PMI, Construction Spending and ISM. In the News: Apple (AAPL) closed 1.41% (lower) amidst differing analyst opinions.  Wells…

Market follows up gap with more gains

Index & Sector performance 9/17/13 The Market: The majority of today’s action was in the first half hour of trading when the S&P gaped slightly higher and then ran up seeing the majority of the days gains.  The remainder of the day the market was able to hold those gains and drift higher on what looked to be an overall light volume day. In economic news, Core CPI came in as expected while headline CPI  was actually less than expected with a 0.1% increase when 0.2% was expected.  Remember headline reflects food and energy while core strips it out.  Tomorrow…

Daily Wrap

DJIA +8.60 (+0.06%) to 15,303.10; S&P 500 -0.91 (-0.06%) to 1,649.60; NASDAQ -0.43 (-0.01%) to 2,991.02 The market started with a drop but spent the remainder of the day working to regain those earl losses and while only the Dow was successful, the other indices made a valiant effort closing just ever so slightly lower. In stock news Procter & Gamble (PG) was a big story of the day as their CEO resined and is being replaced by former CEO A.G. Lafley.  It seemed as though Wall Street approved of the change as PG closed over 4% higher for the day. In merger news, Valeant (VRX) closed up over…

Daily Wrap

DJIA +128.78 (+0.88%) to 14,802.24; S&P 500 +19.12 (+1.22%) to 1,587.73; NASDAQ +54.54 (+1.94%) to 2,859.21 Gap and go explains today’s action as we gaped higher on the open and then rallied the remainder of the day with the S&P 500 closing up over 1.2%.  No need to spend anymore on the that. No real big news on the Economic front today but tomorrow we have Unemployment Claims tomorrow with the consensus forecast I saw of 362K.  Coming of that poor Job numbers, I think this will be watched closely and I will update the site with the number when it comes out…

Analyst Comments

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