Very quiet start to the week
Index & Sector performance 7/7/14 The Market: Today was a very quiet trading session which saw the market give back some of last week’s holiday gains. Looking over the Economic Calendar, this is a light data week and while Alcoa (AA) will kick off earnings season tomorrow after the close it will still be a while before we are in the thick of earnings season. We are watching the Russell 2000 (IWM) closely. In good times you expect to see the Tech Stocks and Small caps lead. While the NASDAQ (QQQ) has come back to do its part this year,…
Russell clear winner in mixed start to week
Index & Sector performance 6/9/14 The Market: All 4 major indices on the WSC Scoreboard started the week moving higher picking up where they left off last week including the small cap Russell 2000 which continued its recent outperformance. The quick start soon came to an end when each index made a top around noon ET which was never again revisited in today’s trading. While the Russell 2000 managed to finish respectfully higher for the day, the rest of the indices were flat to slightly down. We noted in Friday’s report last week that the S&P 500 closed outside of…
S&P on 5 day win streak
Index & Sector performance 4/21/14 The Market: The S&P 500 has been on an impressive 5 day winning streak but much like the “V” bottom we say back in February this year, this rally is coming on lower than average volume with today being by far the lowest in the S&P 500 sector ETF “SPY”. We stated in our 4/14 write-up that we would not be surprised to see the market used short term oversold levels and the shortened holiday Op-Ex week to rally. The question now is as traders get back to the desk in both the U.S….
Increased chatter of a 10+% decline
Index & Sector performance 4/3/14 The Market: A pre-market pop in the S&P 500 emini sent the index as high at 1887.50ES but that move was short lived and the index was trading lower by the open and continued lower throughout the early and midday trading sessions. It wasn’t until the afternoon trading when the S&P bottomed and marched higher into the close. The emini has continued higher in after hours trading closing in on the pre-market highs essentially negating the entire move lower in today’s session. It is worth noting that the ECB left rates unchanged and noted they…
Rampant optimism spikes the market
Index & Sector performance 10/10/13 The Market: In case you were under a rock today. The market exploded to the upside. The move seemed help by some uncertainty being out of the way including the past news that Janey Yellen would be the new Fed chair and confirmation from the FOMC minutes that tapering will not likely start until the end of the year (or later). To add on there was optimism out of Washington about a debt deal. In economic news, Unemployment claims came in far worse than expected posting a 374K when 307K was expected. The reason the…
Week in Review
DJIA +53.68 (+0.39%) to 13,649.70; S&P 500 +5.04 (+0.34%) to 1,485.98; NASDAQ -1.29 (-0.04%) to 3,134.71 Week economic data couldn’t put a damper on the S&P 500 which added onto Thursday’s decent gains. The Nasdaq wasn’t able to join in on the party but had Apple Computers (AAPL), Intel (INTC) and Facebook (FB) as well as other weighing it down. We did have good economic data announced but not in the U.S., China reported GDP growth f 7.9% in Q4 which helped take the full year growth to 7.8% which outpaced consensus analyst expectations (7.7%) and the government’s expectations (7.5%)….