March 19, 2024

Citi & Retail Sales aid rally

Index & Sector performance 4/14/14   The Market: The S&P 500 started lower in Sunday’s overnight session but quickly found a bottom and moved off the lows into early trading.  Met with better than expected retail sales and an earnings beat by Citigroup (C), the rally continued until just after noon ET before topping out and starting a slide back toward the overnight lows.  It appeared the market was yet again faced with a late day sell off but with one hour left in trading the S&P 500 found a bottom and snapped back toward the highs of the session….

The Taper begins…

Index & Sector performance 12/18/13 The Market: A strong day in the market with the gains all coming after the 2 pm EST FOMC report.   The S&P 500 was in a holding pattern until just before the report when it started to drop lower.  After the report there was a quick spike lower (likely on the headline of bond buying decreasing) and the S&P 500 tagged the 50 day SMA where the index then bottomed and ripped higher. From Peak to Trough the S&P 500 gained rouhgly43 points! In economic news today we saw Housing Starts handily beat expectations (1.09M…