June 29, 2017

The NightCap

Daily-Wrap

The Market: No Comments with tonight’s write-up.  Have a great evening!       Reported EPS 12/21/15 After the Close: Cintas Corp (CTAS) est $1; Steelcase Inc (SCS) est $0.32   Reporting EPS 12/22/15 Pre-Market: ConAgra Foods Inc (CAG) est $0.60; Paychex Inc (PAYX) est $0.51   Analyst Comments:

Russell 2000 lags all other Indices

Daily-Wrap

The Market: The Russell 2000 (IWM) was the only index on the WSC Scoreboard to finish lower on the session which was led by the Dow (DIA). Most of the indices on the WSC Scoreboard finished the session higher but HeathCare (XLV) was hit hard finishing -1.33% lower.  XLV remains only one of two sectors still up YTD but was hurt today by comments from Presidential candidate Hillary Clinton who, after a privately held company, Turing Pharmaceuticals, announced a 5,000% price increase in its treatment for toxoplasmosis, called specialty drug prices “outrageous” and vowed to lay out a plan to…

Revisiting December’s lows

Daily-Wrap

Index & Sector performance 1/6/15 The Market: Oil appears to still be affecting the broad market and causing caution in investors as crude, which lost the psychological $50 level yesterday, traded down over $2 in today’s session. Yesterday we remarked that a gap down in the morning could be a short term trading opportunity to the long side but unfortunately we opened flat to slightly up, negative the set-up, and then continue to crawl higher in the first hour of trading before the indices began to sharply lose ground.  Today’s sharp drop eventually found support at the mid-December trading lows…

Overnight loses quicky negated

Daily-Wrap

Index & Sector performance 10/30/14 The Market: In the overnight session the S&P 500 futures lost roughly 20 points and it appeared to be signaling for a rough Thursday but then recouped nearly all the loses by the open and managed to rally for the majority of the day.  All 4 indices from the WSC Scoreboard finished higher with the Dow (DIA) leading the charge helped immensely by Visa (V) which finished the session up 10.24% after reporting better than expected EPS and a new $5B Share Repurchase program yesterday after the close. In Individual sectors the clear standout was…

Tech and HealthCare EPS lead

Daily-Wrap

Index & Sector performance 7/23/14 The Market: Today the stand out index was the NASDAQ (QQQ) which finished 0.64% higher with a lot of help from Apple (AAPL) which finished the day up 2.61% after reporting EPS yesterday after the close.  The S&P 500 (SPY) and Russell 2000 (IWM) were relatively flat, while the Dow (DIA) was the clear laggard and the only index to finish down on the session.  Weighing on the Dow was Boeing (BA) and Caterpillar (CAT) which finished down 2.34% and 1.53% respectively. In individual sectors it was HealthCare (XLV) which shined helped immensely by Intuitive…

Stong gains for shortened Op-Ex week

Daily-Wrap

Index & Sector performance 4/16/14 The Market: From our recap Monday we noted that while the market still appeared vulnerable to the downside, we would also not be surprised to see oversold short term levels and the shortened holiday trading week provide a bounce.  We did not at that time realize that we would get both the downside and the rally all in one day but that is in fact what happened on Tuesday and today was a follow-through on that action. Tomorrow is the last day of trading for the week since the market is closed Friday in observance…

Strong up day ahead of Jobs

Daily-Wrap

Index & Sector performance 2/6/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: CI, MCO, WYN, LH, BPL, APO, CBOE, MSG, FLIR   Analyst Comments:       The Game Plan:

AAPL outshines BBRY buyout

Daily-Wrap

Index & Sector performance 9/23/13 The Market: The market picked up early Monday where it left off Friday gaping lower on the open and continuing lower until roughly 11:30 am EST when the S&P 500 was able to bottom and turn with unfortunately what seems to be not much support or enthusiasm from traders. From the WSC Scoreboard, the largest drag on the Market today was the Financials (XLF) and leading them down was Regions Financial (RF) which closed down 2.27%.  RF closed right at the 150 day SMA and if it cannot find support there the upward sloping 200…

Daily Wrap

Daily-Wrap

DJIA -5.83 (-0.04%) to 15,419.68;S&P 500 -1.95 (-0.12%) to 1,689.47;NASDAQ +9.84 (+0.27%) to 3,669.95 Not too much action overall in the indices today.  A gap down open in the S&P 500 was quickly bought and rallied back toward Friday’s close only to fall back after reaching flat on the day.  The S&P fell until roughly 2pm est where it bottom and staged a late day rally which was unable to reach the highs of the day.  The Russell 2000 and Nasdaq managed to gain ground with the Nasdaq was helped by Apple (AAPL) which gained 2.77% on optimism for a new iPhone model to…

Daily Wrap

Daily-Wrap

DJIA -81.45 (-0.56%) to 14,537.14; S&P 500 -10.40 (-0.67%) to 1,541.61; NASDAQ -40.03 (-1.44%) to 2,741.95 Today was another strong down day but had more back and forth than previous sessions.  Stocks started the day slightly positive following up on an Unemployment claims number that wasn’t necessarily bullish but also and maybe more importantly wasn’t bearish and came in relatively inline with estimates.  Those early gains gave way and at the lows the S&P 500 cash index was down roughly 16 points.  Overall the action was not like previous sessions and it did feel as though the market is trying to set-up for…