Week in Review
DJIA +149.21 (+1.08%) to 14,009.79; S&P 500 +15.06 (+1.01%) to 1,513.17; NASDAQ +36.97 (+1.18%) to 3,179.10 I have been looking and highlighting a pattern that seemed to be begging for higher prices in the short term and why the stance has been that while ultimately I would like to see a broader pullback/correction to provide the markets a better base to then press higher from again, in the short term it felt that every dip was an opportunity for a long trade. Friday’s action now for me has brought the S&P 500 into the levels I was looking for and…
Daily Wrap
DJIA +72.49 (+0.52%) to 13,954.42; S&P 500 +7.66 (+0.51%) to 1,507.84; NASDAQ -0.64 (-0.02%) to 3,153.66 Early morning trading saw the S&P 500 futures down and sitting on the R1 pivot. The pivot held and we started to rally until 10 am and the Consumer Confidence number came in cooler than expected. The market started giving back earlier gains but quickly reverse and started to continue its climb finally closing up over 7 points but if you look at the futures, the S&P rallied from its lows around 7am EST to the close roughly 14 points. Stock of the day…
Daily Wrap
DJIA –14.05 (-0.10%) to 13,881.93; S&P 500 -2.78 (-0.18%) to 1,500.18; NASDAQ +4.59 (+0.15%) to 3,154.30 I had to blink twice and rub my eyes but it was true that the S&P 500 closed lower. The Dow followed suit but AAPL finally having an up day helped the Nasdaq manage to eek out a small gain. Now before we get crazy, this was a near 3 point down day on the S&P after 8 straight days of moving higher. I have been looking for some consolidating which really hasn’t come to fruition. Any pullbacks still look to be greater opportunities…
Week in Review
DJIA +17.21 (+0.13%) to 13,488.43; S&P 500 -0.07 (+0.00%) to 1,472.05; NASDAQ +3.88 (+0.12%) to 3,125.64 Today’s action started with the S&P 500 moving lower but recovering to essentially close flat while the Dow and Nasdaq managed to squeak our small gains. Not to shabby after just making new 5 year closing highs. In the news today was Best Buy Co.’s (BBY) which didn’t wow people with its same-store sales which were down 1.4% but what did impress and send the stock over 16% higher was the improvement in the US. The US is a mor focus for the BBY turn around and today’s move took the stock back to where it was for…
Daily Wrap
DJIA +80.71 (+0.60%) to 13,471.22; S&P 500 +11.10 (+0.76%) to 1,472.12; NASDAQ +15.95 (+0.51%) to 3,121.76 Today’s session started like yesterday’s with early strength that started to wane as the morning went on. Today differed in that around the 11-11:30 AM EST time we bottomed and then moved higher the remainder of the day. Before the market opened we got slightly worse than expected jobs numbers but for many traders those were offset by strong export data out of China. With earnings season still a week away the market looks like it is happy to continue higher. The big stock…
Daily Wrap
DJIA -21.19 (-0.16%) to 13,391.36; S&P 500 -3.05 (-0.21%) to 1,459.37; NASDAQ -11.69 (-0.38%) to 3,100.57 I noted last night that after the previous two days that the market should look to consolidate. Not that it is bearish or due for a massive decline but should consolidate and that is what today was. We started lower, rallied to up by midday and then closed weak, all the wall essentially hovering right around flat. The Fed minutes were released providing some excitement but ultimately I didn’t see anything “market moving” but more just some interesting insight for the econ-nerdy. This type…