Apple finally lands China
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%…
Icahn comments spark late day sell off
Index & Sector performance 11/18/13 The Market: It was a fairly quiet day in the markets until a comment from Carl Icahn appears to have started a late day sell off after noting that he could see the markets have a “big drop”. This sent the S&P 500 down roughly 12 points in the final hour of trading In economic date the NAHB Housing Market Index fell slightly short of estimates posting a 54 when 56 was expected. Today also some a mix of Fed speak and that continues tomorrow including Fed Chairman Bernanke at 7pm EST and President Obama…
Charts to Watch
What ended up being a tough week for the market left many names I was following pulling back m0re than I would have desired but still intact. While I believe it is always prudent to be looking at stocks from the short side, the longer term trend is still higher. I think that it is VERY likely that we see the markets continue to consolidate and even lose ground but I think people tend to lose tract of their long ideas during these times and this is when you want to be watching them as if they hold in during…
Daily Wrap
DJIA -44.23 (-0.32%) to 13,910.19; S&P 500 -5.89 (-0.39%) to 1,501.95; NASDAQ -11.35 (-0.36%) to 3,142.31 Today the markets moved lower and more decisively so compared to that other down day this. What was also interesting is that the Small Caps lead the way down and generally I like to see the Small Caps lead (along with the Techs if I can get them). This still has to be taken in stride based on the current trend in place but the recent action definitely does highlight the need for a consolidation as I have been calling for and also that…