March 19, 2024

Low Volume Slow grind Higher

Index & Sector performance 2/17/15 The Market: Monday the markets were closed in observance of President’s Day.  As trading started back Monday evening, the futures traded lower but by the open Tuesday all the loses were recouped and after an early session consolidation the index pressed toward new closing highs.  Volume was light but this could be due to the winter storms around the nation.  All broad indices on the WSC Scoreboard are noticeably higher YTD with the Dow (DIA) lagging and the NASDAQ (QQQ) leading. In individual sectors it a little more mixed.  HealthCare (XLV) was the clear leading…

New Ebola scare helps market off highs

Index & Sector performance 10/23/14 The Market: The market was cruising along today until roughly 2pm ET when the market turned and then started quickly losing ground.  Traders pointed to news that a doctor who had treated Ebola patients was rushed to the hospital in New York City.  The sell off was not enough to give back all the days gains but we closed well off the intraday highs. Many sectors from the WSC Scoreboard participated in the rally with the biggest gainer the Industrials (XLI) finishing up over 2% helped greatly by Union Pacific Corporation (UNP) and 3M (MMM)…

S&P nearing last week’s low

Index & Sector performance 10/7/14 The Market: After being rejected by the 50 day SMA yesterday, the S&P 500 (SPY), along with the other major indices on the WSC Scoreboard, followed up today with a strong down session.  So far the SPY has managed to stay above the 10/2/14 spike low but we are very close. Utilities (XLU) continue to outperform on this recent down turn and after spending some of today in positive territory managed to only finish 0.14% lower.  Next best was the Consumer Staples down 0.59%.  Leading to the downside today was yesterday’s top loser, Transportation (IYT), …

Daily Wrap

DJIA +42.47 (+0.30%) to 14,296.24; S&P 500 +1.67 (+0.11%) to1,541.46; NASDAQ -1.76 (-0.05%) to 3,222.37 Today started with a bang…well maybe better to say gap as for the second straight day the S&P leaped from the close to a new higher price.  Unlike yesterday the markets didn’t continue moving higher and the S&P, Dow and Nasdaq all never regained the highs set in the first 5 minutes of trading but that didn’t stop the Dow from closing at all time highs, again.  The S&P 500 also closed higher for the day but needs more to get to all time highs and the Nasdaq…

Daily Wrap

DJIA +125.95 (+0.89%) to 14,253.77; S&P 500 +14.59 (+0.96%) to 1,539.79; NASDAQ +42.10 (+1.32%) to 3,224.13 Up up and away the market went today with the Dow closing at record highs.  Starting the week I had the expectation that this week would be a consolidation week but then as Monday started, something bothered me.  The 4 hour emini S&P 500 chart.  It didn’t just look bullish it look destined to head higher.  I posted it over at StockTwits (WSConsensus) and again in my nightly recap.  The way the markets closed and also started the next day seemed to be confirming the pattern and…