March 19, 2024

Huge intraday rally as Volatility continues

The Market: It is not uncommon when the S&P is down 25+ points intraday for their to be a rally but to see the index trade down over 30 points and then finish the session slightly up is surprising.  Even with the recent volatility, we remain within a range from, roughly, 2130 to 2050 in the S&P.  We are interested to see if the Bulls can build on today’s move off the low and gap higher tomorrow.  If not, we would not rule out the S&P revisiting today’s lows in the short-term.  Expect the volatility to continue. Leading sectors today…

Greece rules headlines in slow session

Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%.  Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery.  Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…

Utilities shine amidst sea of red

Index & Sector performance 10/1/14 The Market: All four of the main indices on the WSC Scoreboard finished well into negative territory with the NASDAQ (QQQ) leading the charge down 1.60%. In individual sectors it was the Utilities (XLU) that stood out closing 0.57% higher while the rest of the list was well into negative territory.  It was a broad rally across the XLU with many stocks participating but some noteworthy gainers were Exelon (EXC) up 1.41%, Southern (SO) up 1.01%, and NRG Energy (NRG) up 2.33%.  EXC has been a favorite of ours but we would also watch SO…

Week in Review

DJIA +48.92 (+0.35%) to 13,992.97; S&P 500 +8.54 (+0.57%) to 1,517.93; NASDAQ +28.74 (+0.91%) to 3,193.87 Today the markets gaped higher and continued higher closing near highs.  We had positive economic data where the U.S. trade deficit shrank to its narrowest level in nearly three years. I felt the story of the day was one that didn’t really seem to be taking over the headlines but I think it might be a decision that eventually we look back at and say this was a big move that many others followed.  That was NJ Governor Chris Christie will allow the state…

Daily Wrap

DJIA +99.22 (+0.71%) to 13,979.30; S&P 500 +15.58 (+1.04%) to 1,511.29; NASDAQ +40.41 (+1.29%) to 3,171.58 I did not expect today to be as strong as it ended up being.  I thought yesterday’s move might be the start of a more prolonged pullback/consolidation that would then give us a new platform to rally from but today’s rally essentially gained back all of yesterday’s losses.  I still do feel this action is part of a topping process but clearly the market’s won’t go without a fight.  Also with this week being a low data week, earnings will likely be a driving…

Daily Wrap

DJIA -129.71 (-0.93%) to 13,880.08; S&P 500 -17.46 (-1.15%) to 1,495.71; NASDAQ -47.93 (-1.51%) to 3,131.17 Today proved to be a very timely pullback as we noted last last week and then this weekend after Friday’s action that we believed a form of a top was in that would provide a longer pullback/consolidation than we have been seeing of late.  Today essentially wiped out all of last week gains and it is not surprising after such a strong move down to see the markets up slightly after the close.  We will have to see if they can hold or build…

Analyst Comments

Analyst comments for Monday (11/19/12)  See the Upgrades/Downgrades section for complete & cleaner list Upgrades Company    Symbol    Brokerage Firm    Upgraded to:    Price Target ($) CSC    CSC    Deutsche Bank    Buy    46 Randgold Resources    GOLD    RBC Capital     Outperform    N/A Enerplus Resources    ERF    RBC Capital     Outperform    18 Agnico-Eagle    AEM    RBC Capital    Outperform    69 PetSmart    PETM    Barclays    Overweight    75 Dean Foods    DF    Goldman Sachs    Buy    22 Agilent    A    Goldman Sachs    Buy    59 Bruker     BRKR    Goldman Sachs    Buy    19 Barclays    BCS    Goldman Sachs    Buy    N/A Flowers Foods    FLO    KeyBanc    Buy    25 Actuant    ATU    KeyBanc    Buy    N/A Provident    PFS    Sterne Agee    Buy    15…