December 16, 2017

The NightCap

Daily-Wrap

The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday.  Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data.       Reported EPS 11/3/15 After the Close:   Reporting EPS…

Holiday Fed combo = low vol

Daily-Wrap

The Market: A combination of the Rosh Hashanah (from sunset Sept 13th to nightfall Sept 15th) and traders waiting to see what the FOMC will say Thursday yielded a low volume choppy session which saw the markets finish slightly lower. There are not many earnings reports scheduled for this week but there are some noteworthy names including Oracle (ORCL), Adobe (ADBE), FedEx (FDX), and Rite Aid (RAD). No Economic data today but the remainder of the week is fairly packed with the aforementioned FOMC Rate decision and Statement scheduled for Thursday.       Reported EPS After the Close this…

Market churns while XLU heads lower

Daily-Wrap

Index & Sector performance 2/25/15 The Market: Another day of churn as the market continues to grind with an upward bias.  As we posted over at StockTwits we are starting to see a lot of negative divergence setting up on the MACD.  Divergence is not a trigger itself but is showing signs that each move higher comes with less momentum and excitement. Utilities (XLU) was the leader to the downside and a name we recently posted about in the Charts section.   After seeing a lot of people bullish on the name, we laid the road map we felt the Bulls…

Can EPS decouple market from Oil?

Daily-Wrap

Index & Sector performance 1/12/15 The Market: We noted in the Thursday end-of-day write-up that the strong gains had to do with positive comments from Mario Draghi as well as Oil prices managing to stabilize for the second straight session.  Unfortunately after managing to hold in Friday,  Oil prices resumed their recent slide today finishing below $46/per barrel.  As we have noted in other write-ups and you can see elsewhere, Oil’s sharp decline brings in concern over global growth and particularly U.S. earnings.  Speaking of earnings, Aloca (AA) is scheduled to kick off the earnings season tonight and below you…

Lots of movement, little results

Daily-Wrap

Index & Sector performance 3/10/14 The Market: Today was a yet another choppy session but for day traders there was a great deal of opportunity.  The S&P 500 emini ultimately moved 40 points between support and resistance while the S&P 500 cash index only managed to close down roughly a point for the day.  Starting with Sunday evening’s trading the ES contract lost ground over night finding support at the $1868ES pivot and then rallied pre-market to the $1878ES pivot.  Playing Pivot Pinball the ES tested the $1868ES support after the open to yet again hold and rally back toward…

The Taper begins…

Daily-Wrap

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…