March 19, 2024

QQQs lose 2% – now sit on 50 day SMA

Index & Sector performance 9/25/14 The Market: Strong down session across the board which saw the NASDAQ (QQQ) lead the way lower finishing down over 2%.  QQQ was hurt by Apple (AAPL) which is reportedly facing consumer issue regarding its new iPhone6 and iOS but some media outlets also pointed to concerns over rates and Russia as causes for trader pessimism. The Dow (DIA) and QQQ are now sitting on their 50 day SMA’s while the S&P 500 (SPY) lost its 50 as of today.  With one day left in the trading week it will be interesting to see how…

Markets stop slide, fight back

Index & Sector performance 8/4/14 The Market: After two strong down days, all 4 indices on the WSC Scoreboard managed to find bottoms and rally with the Russell 2000 (IWM) leading the charge finishing the day 0.89% higher.  One note of caution, volume was on the light side when compared to the previous two sessions.  Our suggestion would be to watch the first major pullback after today’s move.  If it is orderly then the market likely has unfinished business to the upside, otherwise we will likely see another push lower. In individual sectors it was green across the board except…