March 19, 2024

Stocks recover after early slide

Index & Sector performance 3/26/15 The Market: Today’s session started of much worse than it ended with the futures losing ground in the overnight and early session causing a gap down which continued lower in early trading but manged to recover and stage a midday rally which even saw all 4 broad indices spend time up on the day.  In global news, traders were focused on Saudi Arabia’s bombing of Yemen which helped Crude Oil traded over $51 u more than 3% on the session. We would not be signaling that the coast is clear yet and see risk in…

HealthCare gains as market slides

Index & Sector performance 3/4/15 The Market: Ultimately, only a a small sell off in the markets after the S&P 500 rallied off the lows which coincided nicely with the upward sloping 20 day SMA.  Aggressive traders could certainly look to use today’s low to trade against. In Individual sectors, HealthCare (XLV) was the lone gainer finishing up 0.48% while the Industrials (XLI) led to the downside finishing 0.78% lower followed closely by Consumer Staples (XLP) and Financials (XLF) which finished down 0.70% and 0.61% respectively.  The biggest loser so far for 2015 is the Utilities (XLU) which is now…

Russell leads overall dull session

Index & Sector performance 11/24/14 The Market: An overall dull session with the S&P 500 (SPY) and Dow (DIA) barely moving while the NASDAQ (QQQ) and Russell 2000 (IWM) led.  As is expected for the remainder of this shortened holiday week, volume was very light. In individual sectors it was Retail (XRT) posting another great session up 1.32%.  Today the index was greatly helped by Outerwall (OUTR), operators of Coinstar and Redbox, which finished up 12.32%.  Also chipping in was Best Buy (BBY) up 2.29% and Foot Locker (FL) up 3.45%.  After spending much of the year down, the XRT…

Market continues higher on low volume

Index & Sector performance 8/13/14 The Market: Monday was a solid up day to follow-up on Friday’s move but one concerning aspect was how the indices finished noticeably off the intraday highs.  That trend continued taking the indices lower in Tuesday’s session but the losses were contained and today it was back up as all 4 indices on the WSC Scoreboard finished higher with the NASDAQ (QQQ) leading the charge. In individual sectors there were three standouts with HealthCare (XLV) the biggest winner finishing the day up 1.21% followed by a tie for second with both the Industrials (XLI) and…

Choppy trading leaves the indices flat

Index & Sector performance 2/26/14 The Market: A choppy trading session to saw a sell off toward the open which ultimately was bought until midday when the S&P started to make its way back down toward and below the previous intraday lows.  Again buyers stepped in and were able to close the S&P 500 essentially flat on the day.     Companies scheduled to report earnings pre-market:     Analyst Comments:        

Daily Wrap

Today was an ugly day for the markets.  We had highlighted, for the Bulls, a potential inverse H&S setting up on the 60 minute SPY chart but noted that the lows from 11/13/12 HAD to hold or the market could be looking at a bad situation.  The SPY made the highs for the day in the first 5 minutes of trading and then faced selling for the remainder.  The first leg down completed around 11am EST and then we meandered until later until around 2:15 pm EST when we broke hard for the rest of the day.  The President spoke…