September 23, 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…

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…

Pop off support as FOMC looms

Daily-Wrap

The Market: A nice snap back rally today as the S&P 500 continues to hold the 200 day SMA.  We would not be surprised to see limited action overnight and in early trading tomorrow as traders wait to see what the Fed says at 2pm ET. Yesterday’s laggard, Energy (XLE), is today’s leader finishing up 2.86% followed closely by Transportation (IYT) which finished up 2.75%.  Also posting strong sessions was Materials (XLB), Industrials (XLI), and HeathCare (XLV) finishing up 2.09%, 1.94% and 1.81% respectively. FOMC statement tomorrow and remember we are still in the thick of earnings reports which will…

HealthCare gains as market slides

Daily-Wrap

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…

Low Volume Slow grind Higher

Daily-Wrap

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…

Early dip finds interested buyers

Daily-Wrap

Index & Sector performance 7/28/14 The Market: Early moves lower in the broad market indices soon found buyers and managed to finish the day near flat on the session with the Russell 2000 (IWM) continuing to lag.  The DOW (DIA) played MA pinball with the lows in the early session touching the 50 day EMA while the highs of the session back tested the 20 day EMA. The stand out sector from the WSC Scoreboard was the Utilities (XLU) finishing up X% higher on the session.  Every name in the sector ETF was higher and that vast majority were up…

The Calm before Jobs data storm?

Daily-Wrap

Index & Sector performance 1/9/14 The Market: A mixed consolidation day in S&P 500 saw the futures up in the pre-market only to sell off at the open.  That sell off persisted until 11am EST losing roughly 15 S&P points from the pre-market highs and then the S&P bottomed and staged a rally which didn’t make it back to the pre-market highs but did take back more than half of what was lost. In Economic data today, Unemployment claims came in better than expected posting a 330K number when 337K was expected but the previous week was revised about 6K…