November 24, 2017

The NightCap

Daily-Wrap

The Market: We expected to see a tight trading range until the FOMC statement but instead we saw buyers in advance of the statement as the S&P 500 (SPY) pressed higher.  The the announcement came and there was a sharp sell-off but buyers came right back and all 4 major market indices on the WSC Scoreboard finished above the pre-FOMC announcement highs. As was expected by many, the FOMC left the Fed Fund Rates unchanged but, based on the comments, it appears a rate hike is on the table for December if the data warrants.  We also saw the committee…

Early gap up fades, XLE leads lower

Daily-Wrap

Index & Sector performance 4/21/15 The Market: The Nasdaq (QQQ) was the only sector that managed to finish the session higher while the Blue Chip Dow (DIA) was the leader to the downside. After spending the majority of the year down, Energy (XLE) has recently rallied to up YTD but there was no optimism today as the sector finished over 1% lower.  Also finishing lower was Utilities (XLU) down 0.89%, Materials (XLB) down 0.74%, and Financials (XLF) down 0.50%.  Today’s clear leader was HeathCare (XLV) which managed to close up 0.68% on the session. No tracked Economic data yesterday or today…

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…

Merger denied, collaboration approved

Daily-Wrap

Index & Sector performance 7/16/14 The Market: A small up session in the market was helped by solid earnings reports in the morning and a potential huge media merger between Time Warner (TWX) and Twenty First Century Fox (FOXA).  FOXA offered $85/share but were turned down by TWZ.  This sent shares of TWX screaming higher finishing the day up 17.07% as traders reevaluated TWX’s worth and also speculated on increased offers.  In other corporate news, Apple (AAPL) announced they will be teaming up with IBM (IBM) to provide business mobile solutions.  BlackBerry (BBRY) was negatively affected by the news finishing…

Market lower & Energy higher on week

Daily-Wrap

Index & Sector performance 6/13/14 The Market: After logging a close outside of the Weekly (20, 2, -2) Bollinger Bands in the S&P 500 last week, the S&P 500 finished this week slightly lower.  As we noted last week when it happened, this is a noteworthy event to track in our opinion because it has led to multi-week/month counter trend moves and remains one reason we continue to cautious on the broad market at this time. While most of the sectors from the WSC Scoreboard finished the trading session higher, it was again Energy (XLE) leading the charge closing up nearly…

6 day win streak ends..new starts?

Daily-Wrap

Index & Sector performance 4/23/14 The Market: Today’s session snapped a 6 day winning streak for the S&P 500 but the losses were small and maintained a very orderly structure throughout the day.  In after hours trading, the futures traded sharply higher helped by Apple’s (AAPL) earnings which beat EPS and revenue along with announcing a 7 for 1 stock split, increase in the buyback, and an 8% increase in the dividend. With tonight’s overnight action, the S&P 500 is now closing in on the all time highs .  Focus will continue to be on earnings especially with a very…

Daily Wrap

Daily-Wrap

DJIA +67.12 (+0.49%) to 13,779.33; S&P 500 +2.25 (+0.15%) to 1,494.81; NASDAQ +10.49 (+0.33%) to 3,153.67 All in all today was a nothing as we started around flat and stayed flat the majority of the day until we (again) rallied into the close after lunch.  After the close we had Apple Computers (AAPL) report earnings which slightly beat EPS estimates but slightly missed on revenues.  The futures dropped at the same time as AAPL reported and started to decline and now stand down about 7 points as I write. Apple (AAPL) clearly is driving discussion after the close and it…