March 19, 2024

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…

Market reaches target, now what?

Index & Sector performance 2/10/14 The Market: A light volume start to the week and a very tight trading range with the S&P 500 cash trading in an 8 point range and even including early trading in the futures the entire day stayed within a 9.25 point range.     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: CVS, S, REGN, RAI, MMC, OMC, PCG, HCP, IR, ETR, GWR   Analyst Comments:         The Game Plan: The S&P 500 (SPY) 60 minute chart has a potential inverse Head & Shoulder pattern which counts…

Daily Wrap

DJIA -32.41 (-0.21%) to 15,451.85;S&P 500 -6.24 (-0.37%) to 1,676.26;NASDAQ -8.99 (0.25%) to 3,598.50 A relatively boring down day as the highs for the day were marked in the opening minuted and then the S&P 500 to lose ground until it bottomed around 1:30 with some small positive divergences on the 5 minute MACD and then rallied until 2:30 pm EST where it again lost ground but held above those earlier lows.  The market spent the last 30-40 minutes rallying but never regaining the 2:30 pm highs. In economic news we had CPI data with the core meeting expectations of up 0.2%…