September 24, 2017

The NightCap

Daily-Wrap

The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday.  Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data.       Reported EPS 11/3/15 After the Close:   Reporting EPS…

S&P snaps 2 day losing streak

Daily-Wrap

Index & Sector performance 2/10/15 The Market: The S&P 500 snapped a 2 day losing streak with a solid rally closing up over 1% on the session while the NASDAQ led the charge finishing up over 1.50% helped by Apple (AAPL) which closed at a fresh all time highs.  The Russell 2000 (IWM) was the laggard but still managed to finish up 0.67%. All the sectors on the WSC Scoreboard were higher with the exception of Energy (XLE) which was taking its cue from Crude’s slide today after running into the 50 day SMA.  Utilities (XLU) was the biggest gainer…

Another flat session overall

Daily-Wrap

Index & Sector performance 7/24/14 The Market: Another relatively flat session across the broad major indices as earnings continue to drive most individual stock movements. The NASDAQ (QQQ) and S&P 500 (SPY) have both managed to breakout to new 52 week highs this week and hold those breakouts so far but the S&P 500 Equal Weight index (RSP) and Dow (DIA) have yet to follow.  The Russell 2000 (IWM) is up on the week but far from new 52 week highs and also seems vulnerable to fill the downside gap left from Tuesday. Speaking of the IWM, we noted in…

Market digests yesterday’s move

Daily-Wrap

Index & Sector performance 3/27/14 The Market: In Economic news, Unemployment Claims came in at 311K which is better than the 326K estimate.  GDP came in a hair light at 2.6% vs 2.7% est. and Pending Home Sales missed big posting a -0.8% vs a 0.1% est. while the previous number was revised lower.  Tomorrow’s data is not as critical as today’s but we do have multiple events including Consumer Confidence. In early trading the emini reached 1835ES and twice found support there before managing to rally roughly 9 points off the lows to the close.  All in all it…

Russell leads Indices lower

Daily-Wrap

Index & Sector performance 3/24/14 The Market: The Bull missed a great opportunity in our opinion when a late day rally stalled and failed to get above the 1856.50ES resistance and they even had the opportunity to close up on the day.  Now the 1852-56.50ES region should act as resistance and leaves the door open for an overnight drop toward 1840ES and then further 1827ES. In Economic Data we had Manufacturing PMI come in lighter than expected but the previous number was revised higher .  Tomorrow the market will be watching Consumer Confidence and New Home Sales.   Reporting EPS…

Week in Review

Week-in-Review

DJIA +11.75 (+0.08%) to 14,712.55; S&P 500 -2.92 (-0.18%) to 1,582.24; NASDAQ -8.11 (-0.28%) to 2,840.55 With the exception of the Dow, the markets were on the downside Friday but only slightly so on what was a relatively uneventful options expiration.  All in all I would call today another consolidation day.  The S&P 500 started relatively flat and then moved lower until noon EST where it set a bottom and rallied the remainder of the day including a quick peak into positive territory just before the close which was eventually sold leave the small loss on the day.  In economic news we saw real GDP growth…

Daily Wrap

Daily-Wrap

DJIA +19.66 (+0.14%) to 14,567.17; S&P 500 +7.25 (+0.47%) to 1,562.50; NASDAQ +29.61 (+1.06%) to 2,810.07 Monday’s action started with a gap higher which was promptly sold until just before 11am EST when the S&P 500 finally bottomed and then rallied the majority of the day.  The high for the day was set just before 3pm EST and the remainder of the day was spent consolidating with a slightly lower bias.  In economic data we saw a slightly downbeat housing (existing sales) number coming in at 4.92M vs a 5.02M estimate. Caterpillar (CAT) announced earnings that seemed to be overall disappointing with a…