July 24, 2017

The NightCap

Daily-Wrap

The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday.  Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data.       Reported EPS 11/3/15 After the Close:   Reporting EPS…

The Nightcap

Daily-Wrap

The Market: A very strong session which was led by the NASDAQ (QQQ) and Dow (DIA) which the S&P 500 (SPY) not far behind.  It was interesting to see the Guggenheim S&P 500 Equal Weight index lag the S&P pointing to the gains being in the higher weighted stocks in the S&P 500 index.  Additionally the Russell 2000 (IWM) underperformed posting half the gains of the SPY. In individual sectors the day session was led by the Industrials (XLI) followed closely by the Materials (XLB).  Also closing up over 2% on the session was Technology (XLK) and that move looks…