July 22, 2018

Few market participants on Yom Kippur

The Market: Overall it was a low volume range bound trading session as volume was light and many market participants were out in observance of Yom Kippur. Crude oil traded sharply lower today which hurt the XLE but the biggest loser on the WSC Scoreboard was Materials (XLB) which finished down -2.13%.  The biggest losers in the XLB included CF Industries (CF), Mosaic (MOS), and Freeport-McMoRan (FCX) closing down -6.58%, -5.67%, and -5.64% respectively but it is also worth noting that 4 of the top 5 weighted stocks in the XLB were down over 2% on the session.  You can…

Huge intraday swings

The Market: As expected, volatility continues and while we would not expect 100 point S&P days to become a common occurrence we do expect to see sharp swings both up and down. Our current expectation is that the market will ultimately revisit this morning’s lows is not make new lows but in the short-term the market is very oversold and should stage some sort of rally — not just intraday like today but on a closing basis over a few days.  That rally will be very telling and if weak we could be setting up for much much lower and…

Tech & Small Cap lead, S&P new highs

Index & Sector performance 5/27/14 The Market: After a lull in Economic releases last week and a Holiday Monday, today started with a slew of Economic data which posted better than expected results for Durable Goods orders, Home Price Index, and Flash Services PMI.  The S&P which was already trading slightly higher preceded to rally into the early morning before seeing a midday dip followed by an end of day rally that took the S&P500 futures back to and slightly above the earlier highs. Tomorrow we get a break from Economic news but Thursday will be another big day with…

Fed open to scale back causes pullback

Index & Sector performance 11/20/13 The Market: Initial optimism on better than expected economic data pre-market saw early selling as the S&P pulled off the highs of the day in the first hour of trading and then the market meandered waiting for the Fed minutes to be released.  After the 2pm EST announcement the market began selling off as the Fed showed they are prepared to scale back on the rate of asset purchases.  The S&P 500 was able to use late trading to close a few points off the lows of the day. In economic data, Core CPI came…