Early dip met with strong buying
Index & Sector performance 2/13/14 The Market: The markets began to dip overnight and into early morning trading. Weaker than expected economic data didn’t help but just as the market officially opened the bottom was put in and the S&P 500 spent the remainder of the day rallying only taking a short midday break before continuing on to made the highs of the day near the close. The following noteworthy companies are scheduled to report earnings before tomorrow’s open: ALE, BAM, COTY, CPB, DTE, H, IPG, IPGP, ITT, JMP, LECO, LPNT, MINI, POR, RRGB, SJM, SNI, TRW, VFC, VTR,…
Slow grind higher continues
Index & Sector performance 12/9/13 The Market: Another slow grinding day with a bias higher. It is yet to be seen if this is a consolidation for a next leg higher or exhaustion with a leg lower to come. To catch the most amount of people off guard the market could look to pop higher first to finish and then start a strong quick decline. There was no economic data today but there was Fed speak from FOMC member Bullard. Bullard was a QE3 supporter and noted his stance that any Fed action is data dependent. The increase in jobs…
Today the quiet before the storm?
Index & Sector performance 10/31/13 The Market: Second straight down day for the S&P 500. The day was slightly more active than the closing prices might suggest as a very early up open was quickly sold down to the 1756 levels where the market bottomed around 10:30am EST and then rallied to 1768 by 2:30 pm EST. What took almost all day to gain was then lost in that last hour of trading with the S&P closing back near the earlier lows for the day at 1756. What needs to be seen is if this relatively quiet day is the…
4 days down and counting…..
Index & Sector performance 9/24/13 The Market: The S&P 500 came into the day trying to snap a 3 day losing streak with even the smallest of gains but was unable to and after spending some time in positive territory, eventually lost ground and closed down for the 4th day in a row. In economic news the Case Shiller Index showed prices come in at the expected 12.4% increase year over year and slightly above expectations with a 1% month over month reading. Richmond Manufacturing was well below expectations but generally not considered significant to the market and Consumer Confidence…
Daily Wrap
DJIA -50.92 (-0.38%) to 13,384.29; S&P 500 -4.58 (-0.31%) to 1,461.89; NASDAQ -2.85 (-0.09%) to 3,098.81 The small 60 minute divergence we noted last week played out today with a small gap lower which then meandered most of the day before finally rallying after 2pm EST recovering about half of the day’s losses. The broad trend still seems to be strongly in-tact and right now it looks like that small divergence might just be setting up for a MACD recycle. Stocks in the news today included Epocrates (EPOC), up over 21% after agreeing to be acquired by athenahealth (ATHN) for…
Analyst Comments
Analyst comments for Monday (11/19/12) See the Upgrades/Downgrades section for complete & cleaner list Upgrades Company Symbol Brokerage Firm Upgraded to: Price Target ($) CSC CSC Deutsche Bank Buy 46 Randgold Resources GOLD RBC Capital Outperform N/A Enerplus Resources ERF RBC Capital Outperform 18 Agnico-Eagle AEM RBC Capital Outperform 69 PetSmart PETM Barclays Overweight 75 Dean Foods DF Goldman Sachs Buy 22 Agilent A Goldman Sachs Buy 59 Bruker BRKR Goldman Sachs Buy 19 Barclays BCS Goldman Sachs Buy N/A Flowers Foods FLO KeyBanc Buy 25 Actuant ATU KeyBanc Buy N/A Provident PFS Sterne Agee Buy 15…