August 23, 2017

The NightCap

Daily-Wrap

The Market: A late day rally helped the market close well off the midday lows but all 4 major indices on the WSC Scorobard still finished down near or over 1%.  Based on the recent action, we expect to see lower levels in the short-term. In individual sectors, Retail (XRT) was the hardest hit sector on the WSC Scorboard with Priceline (PCLN) finishing down over 9% on the session after reporting EPS which beat expectations but guidance that fell short.  We will be watching Ctrip.com (CTRP) which is scheduled to report EPS tomorrow, November 10th, after the close — CTRP…

Energy leads while healthcare lags

Daily-Wrap

The Market: Overall a consolidation session in the markets as the Dow (DIA) finished higher while the S&P 500 (SPY), NASDAQ (QQQ), and Russell 2000 (IWM) finished lower . Energy stocks continue to remain in vogue as the XLE finished 2.22% higher on the session and marked the 5th straight day of higher closes.  Materials (XLB) was the next closest outperformer finishing up 1.3% and Technology (XLK) was the only other sector to finish up. Lagging in today’s session was HealthCare (XLV) which finished down -2.35% and saw all components finish the day lower except for Mallinckrodt (MNK) and Dentsply…

Holiday Fed combo = low vol

Daily-Wrap

The Market: A combination of the Rosh Hashanah (from sunset Sept 13th to nightfall Sept 15th) and traders waiting to see what the FOMC will say Thursday yielded a low volume choppy session which saw the markets finish slightly lower. There are not many earnings reports scheduled for this week but there are some noteworthy names including Oracle (ORCL), Adobe (ADBE), FedEx (FDX), and Rite Aid (RAD). No Economic data today but the remainder of the week is fairly packed with the aforementioned FOMC Rate decision and Statement scheduled for Thursday.       Reported EPS After the Close this…

QQQ & IWM reach new highs

Daily-Wrap

Index & Sector performance 2/26/15 The Market: More churn today in the markets but again the NASDAQ (QQQ) and Russell 2000 (IWM) showed more strength than the S&P 500 (SPY) with the QQQ and IWM reaching new 52-week closing highs on the session. Crude oil lost over 5% today which helped send the Energy (XLE) sector 1.88% lower.  We noted in our 2/18/15 nightly recap when the XLE was trading above $81 that we would look for a pullback toward $78 as a buying opportunity.  Closing today at $79.35, we would ideally like to see lower levels before dipping into…

Russell outperforms in ugly session

Daily-Wrap

Index & Sector performance 10/13/14 The Market: Another 1+% down day across the major indices on the WSC Scoreboard except for the Russell 2000 (IWM) which finished the session down only 0.42%.  YTD the IWM is still the clear loser down 9.55% but today’s outperformance is interesting and something to watch.  IWM’s underperformance starting earlier in the year was a warning so if it begins to outperform on a consistent basis going forward it should be noted. It does not feel like very long ago when the only down sector on the WSC Scoreboard Was Retail (XRT) but now we…

S&P 500 pullback coming soon?

Daily-Wrap

Index & Sector performance 6/6/14 The Market: Yet again the Russell 2000 led in today’s trading as all 4 broad indices from the WSC Scoreboard closed higher.  Also after spending much of 2014 in the red, the Russell 2000 (IWM) is now ever so slightly higher on the year. Healthcare (XLV) and Utilities (XLU) were the lone laggards in the individual sectors while Energy (XLE), Industrials (XLI), and Transportation (IYT) were the notable leaders.  Taking a peak further at the Industrials, which were the overall leader, we see Fluor (FLR) posted a 2.77% gain today following up on a strong…