June 29, 2017

The NightCap

Daily-Wrap

The Market: No Comments with tonight’s write-up.  Have a great evening!       Reported EPS 12/21/15 After the Close: Cintas Corp (CTAS) est $1; Steelcase Inc (SCS) est $0.32   Reporting EPS 12/22/15 Pre-Market: ConAgra Foods Inc (CAG) est $0.60; Paychex Inc (PAYX) est $0.51   Analyst Comments:

The NightCap

Daily-Wrap

The Market: A lower close for all 4 main indices on the WSC Scoreboard as the Russell 2000 (IWM) led to the downside while the NASDAQ (QQQ) was the relative outperformer. The Retail (XRT) sector was the biggest loser on the WSC Scoreboard followed closely by Energy (XLE).  Unlike some other sectors, the XRT is not heavily weighted in a few stocks and, as of 11/10/15, has no stock weighted more than 1.27% so when you see strong moves up or down, like today, it is due to a majority of the names trading in that direction.  Bucking the trend…

Low volume drift higher

Daily-Wrap

Index & Sector performance 11/10/14 The Market: Without any key news or economic data the market was happy to drift with the trend which is higher.  This drift higher in the markets has created some negative divergence on the intraday charts so we would not be surprised to see downside action early in the week.  However, at this time we would expect the losses to be contained and ultimately for that initial dip to be a buying opportunity for short term traders. Stand out sector to the upside was Transportation (IYT) which finished the day 1.34% higher followed by HealthCare…

Great Initial Claims data but….

Daily-Wrap

The Market: The markets saw a small down day which after the recent bullish action only seems to be best described as a consolidation.  The leading sector of the day was technology which saw Apple (AAPL) Verizon (VZ) and AT&T (T) lead but the next best sector was the Consumer Staples and the standout there was Walgreen (WAG) which caught an upgrade to Conviction Buy at Goldman Sachs. In economic data there was a great deal of data including the often watched Initial Jobless Claims which came in better than expected posting a 292K number vs the consensus estimate of…