October 18, 2018

Market lower & Energy higher on week

Index & Sector performance 6/13/14 The Market: After logging a close outside of the Weekly (20, 2, -2) Bollinger Bands in the S&P 500 last week, the S&P 500 finished this week slightly lower.  As we noted last week when it happened, this is a noteworthy event to track in our opinion because it has led to multi-week/month counter trend moves and remains one reason we continue to cautious on the broad market at this time. While most of the sectors from the WSC Scoreboard finished the trading session higher, it was again Energy (XLE) leading the charge closing up nearly…

S&P regains the 50

The Market: Today did not have anything to really speak of in terms of Economic data and the remainder of the week is not necessarily uneventful but also not one of the more data laden weeks we see.  Tuesday morning brings the NFIB Small Business Index, Thursday the Unemployment Claims as well as Fed Budget Balance and Import prices. and Friday rounds out the week with Consumer Sentiment and Inflation Expectations as well as Retail Sales and PPI.  We track the data and the numbers posted in the Events Calendar. Story Stocks: Shareholders of Delta Air Lines (DAL) have had…

Daily Wrap

DJIA -81.45 (-0.56%) to 14,537.14; S&P 500 -10.40 (-0.67%) to 1,541.61; NASDAQ -40.03 (-1.44%) to 2,741.95 Today was another strong down day but had more back and forth than previous sessions.  Stocks started the day slightly positive following up on an Unemployment claims number that wasn’t necessarily bullish but also and maybe more importantly wasn’t bearish and came in relatively inline with estimates.  Those early gains gave way and at the lows the S&P 500 cash index was down roughly 16 points.  Overall the action was not like previous sessions and it did feel as though the market is trying to set-up for…

Daily Wrap

DJIA +18.89 (+0.14%) to 13,507.32; S&P 500 -1.37 (-0.09%) to 1,470.68; NASDAQ -8.14 (-0.26%) to 3,117.50 Technically it was a mixed day but who really cares about the Dow?  Today started and finished lower on the S&P but otherwise was very tight ranged spanning less than 6 points from low to high.  Ben Bernanke spoke just after the close but so far it seems to not have any effect as the futures are up less than 1 point after the close as I am typing. Today’s major stock of the day and has often been my stock of the day…

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 -55.44 (-0.4%) to 13,328.85; SPX -4.74 (-0.3%) to 1,457.15; NASDAQ -7.01 (-0.2%) to 3,091.81 Today’s action was as expected and a continuation of the consolidation.  Early morning trading was only down roughly 2 points in the S&P but by midday we were roughly 10 points lower until finally bottoming and closing the down down 4.  Otherwise there wasn’t much Market news and even the fed minutes showed everything roughly remained the same in voting patterns. In the news today was Signet Jewelers (SIG) which gained over 9% on news that holiday season same-store sales rose 3.3% and also on earnings guidance that Wall Street…