July 22, 2018

Volatility & Chop continues

The Market: Volatility continues to be the name of the game which is why you can have a 40+ point day like today and still have the S&P 500 within a range/wedge.  While it is possible that we extend today’s rally by gaping higher tomorrow, it is not our expectation and if we do open higher tomorrow we would watch the downward sloping 20 day SMA as resistance. Overall, a light Economic Calendar this week Thursday and Friday having the most significant data points (Unemployment Claims, PPI, and Consumer Sentiment).       Reported EPS 9/8/15 After the Close:  …

Weak ADP data helps market gap

The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day…

Week starts slow – GS grounds BA

Index & Sector performance 2/23/15 The Market: Overall a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) finishing slightly higher while the Dow (DIA) and S&P 500 (SPY) finished lower.  The main drag on the DIA today was Boeing (BA) which finished down 2.26% after Goldman downgraded the name to Sell with a $132 price target. In individual sectors it was a mixed bag with the Industrials (XLI) leading to the downside finishing down 0.43% while the Utilities (XLU) led to the upside finishing up 0.68%.  As we posted tonight in the Charts section, the XLU held a…

Greece rules headlines in slow session

Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%.  Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery.  Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…

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…

LULU warns and market dives

Index & Sector performance 1/13/14 The Market: The S&P 500 meandered throughout the Sunday evening session, into Monday and even to start the trading day but then around noon EST weakness started to set in and continued to build.  Around 2:30 pm EST we had reached R2 support in the future but we posted at StockTwits that this support did not look like it would hold due to the MACD’s formation.  That support was indeed lost and the S&P 500 futures (ES) lost another 10 points to the day’s lows and 5 points to the close overall netting a 20+…