July 22, 2018

The NightCap

The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting.  As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often  look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…

Will the recent Volatility continue?

The Market: No comments tonight except to say that, after a volatile beginning, the market quieted down and consolidated to finish the week but we do not think the violent swings are over and expect more volatility next week. Hope you all have a wonderful weekend!       Reporting EPS 8/17/15 After the Close:   Reporting EPS 8/17/15 Pre-Market: The only name we are currently tracking is The Estee Lauder Companies (EL) with an estimate of $0.34.   Analyst Comments:

China & Buffett support stong session

The Market: A strong overnight session in China which was triggered by changes to the latest monetary policy report and also on reports that China will overhaul state-owned enterprises helped get the market started and then Warren Buffett and Berkshire Hathaway (BRK.A, BRK.B) helped fan the fire by first purchasing Precision Cast Part (PCP) for $235/share in cash and then during an interview noted that he likes IBM (IBM) and answered a question about if he is buying that people should check the SEC filings in the coming days.  The Dow (DIA) led today’s rally. Energy (XLE) was the biggest…

Greece rules headlines in slow session

Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%.  Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery.  Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…

Off the 200 Day and up

Index & Sector performance 2/2/15 The Market: The S&P 500 (SPY) started the session lower but found support just slightly above the 200 day SMA which has not been visited since October 2014.  After an initial pop and then pullback the index rallied the remainder of the session to finish over 30 points off the lows.  So far in the after hours the index is holding the gains and consolidating.  Today’s action should be very promising for long traders and you know your stops — below today’s lows. The leading sector on the WSC Scoreboard was Energy (XLE) finishing up…

Big follow through session

Index & Sector performance 12/18/14 The Market: Following on the rally after the FOMC statement release yesterday, today gaped higher and never looked back with the S&P 500 (SPY) finishing up 2.50%.  Yesterday’s leader, the Russell 200 (IWM), was today’s laggard but still finished up 1.45%.  Unlike previous sessions where the markets seem to take their cue from Oil, today the markets rallied even while oil continued its slide. Again as would be expected on a day like today, all of the individual sectors were higher with Technology (XLK), HealthCare (XLV), Industrials (XLI), Financials (XLF), and Materials (XLB) all finishing…

Low vol drift higher

Index & Sector performance 12/3/14 The Market: Another low volume drift higher today which saw the Russell 2000 (IWM) lead and the NASDAQ (QQQ) lag even spending some time down on the session. In individual sectors, Consumer Staples (XLP) and Utilities (XLU) were the only two from the WSC Scoreboard to finish lower which Materials (XLB), Industrials (XLI), and Energy (XLE) finished up over 1%.  One name helping materials have such a strong session was LyondellBasell (LYB) which has been down significantly since September but finished today up over 2% and was up more than 3% intraday.  LYB is a…

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…

Quiet start to the month

Index & Sector performance 11/3/14 The Market: The market started the day slightly higher building on last week’s extremely strong session but the market ran out of steam in the short term and the S&P 500 started pulling back in afternoon trading finishing flat on the session.  All in all it was a low volume quiet session but the Bulls can point to the fact that they didn’t give ground after reaching new highs. We do not expect the remainder of the month to be as quiet as today and would plan for swings in both directions much like October…

EPS should lead trading

Index & Sector performance 7/21/14 The Market: Slow start to the week saw the S&P futures down over 10 points in early trading only to rally back and finish the day relatively flat on the session.  The best performer of the 4 broad indices was the NASDAQ (QQQ) but all-in-all it was a low volume relatively uneventful start to the week. With not much scheduled in terms of Economic data this week (see schedule below), eyes will be firmly fixed on the slew of earnings coming out.  Below is the list of confirmed pre-market reports for 7/22/14 and the remainder…