January 24, 2018

Huge intraday swings

Daily-Wrap

The Market: As expected, volatility continues and while we would not expect 100 point S&P days to become a common occurrence we do expect to see sharp swings both up and down. Our current expectation is that the market will ultimately revisit this morning’s lows is not make new lows but in the short-term the market is very oversold and should stage some sort of rally — not just intraday like today but on a closing basis over a few days.  That rally will be very telling and if weak we could be setting up for much much lower and…

Low volume rally led by Russell 2K

Daily-Wrap

Index & Sector performance 5/20/14 The Market: An overall light volume day was led to the upside by the Russell 2000 followed by the NASDAQ 100.  In individual sectors, Utilities (XLU) led to the downside followed by the Consumer Staples (XLP) while the transportation index was the largest gainer with components Matson (MATX) and JetBlue (JBLU) up the most gaining 3.05% and 2.42% respectively.  MATX and JBLU both appear to be viable long trade candidates going forward. This is an extremely quiet Economic data week with a lot of Fed speak.  Earnings will play a role for individual stocks so…

Apple finally lands China

Daily-Wrap

Index & Sector performance 12/23/13 The Market: The market was able to produce a gap higher to start this shortened trading week which will include a half day of trading Christmas eve and the market will be closed Wednesday December 25th in observance of Christmas.  After the gap itself the S&P remained in a roughly 4-5 point trading range the entire day on light volume. There was a fair amount of economic data released today but nothing that really tipped the balances.  Core PCE and Consumer spending came in right at expectations while Personal Income slightly missed (0.2% vs. 0.4%…

Daily Wrap

Daily-Wrap

DJIA +8.60 (+0.06%) to 15,303.10; S&P 500 -0.91 (-0.06%) to 1,649.60; NASDAQ -0.43 (-0.01%) to 2,991.02 The market started with a drop but spent the remainder of the day working to regain those earl losses and while only the Dow was successful, the other indices made a valiant effort closing just ever so slightly lower. In stock news Procter & Gamble (PG) was a big story of the day as their CEO resined and is being replaced by former CEO A.G. Lafley.  It seemed as though Wall Street approved of the change as PG closed over 4% higher for the day. In merger news, Valeant (VRX) closed up over…