September 22, 2018

The NightCap

The Market: We expected to see a tight trading range until the FOMC statement but instead we saw buyers in advance of the statement as the S&P 500 (SPY) pressed higher.  The the announcement came and there was a sharp sell-off but buyers came right back and all 4 major market indices on the WSC Scoreboard finished above the pre-FOMC announcement highs. As was expected by many, the FOMC left the Fed Fund Rates unchanged but, based on the comments, it appears a rate hike is on the table for December if the data warrants.  We also saw the committee…

Sharp snap back rally — SPY up YTD

Index & Sector performance 3/12/15 The Market: Strong performance today with the Russell 2000 (IWM) leading the charge for the 2nd straight day followed by the Dow (DIA) and S&P 500 (SPY).  Friday will be an interesting session as traders will have to decide how they want to end the week.  In the very short term the SPY looks stretched so we would consider using a gap up tomorrow morning as a (very) short-term selling opportunity. In individual sectors it was the Financials (XLF) which led the way finishing up 2.13% followed closely by Consumer Discretionary (XLY) which ended up…

EPS helped shrug off bad overseas data

Index & Sector performance 11/20/14 The Market: It doesn’t look like the S&P 500 (SPY) had a strong session but considering the futures were down roughly 10 points pre-market reportedly due to weak data out of Europe and China, to finish up a few points is a strong showing.  Yesterday’s laggard was today’s leader as the Russell 2000 (IWM ) finished up over 1% clawing back most of yesterday’s losses and the Dow (DIA) was helped by Intel (INTC) which gained 4.66% after announcing a dividend hike and solid 2015 expected revenue growth. In individual sectors, Retail (XRT) led today…