Pop off support as FOMC looms
The Market: A nice snap back rally today as the S&P 500 continues to hold the 200 day SMA. We would not be surprised to see limited action overnight and in early trading tomorrow as traders wait to see what the Fed says at 2pm ET. Yesterday’s laggard, Energy (XLE), is today’s leader finishing up 2.86% followed closely by Transportation (IYT) which finished up 2.75%. Also posting strong sessions was Materials (XLB), Industrials (XLI), and HeathCare (XLV) finishing up 2.09%, 1.94% and 1.81% respectively. FOMC statement tomorrow and remember we are still in the thick of earnings reports which will…
Small Caps lag as market rallies
Index & Sector performance 3/16/15 The Market: A strong performance day as the S&P 500 (SPY), Dow (DIA), and NASDAQ (QQQ) finished up over 1% while the Russell 2000 (IWM) was the laggard finishing up 0.60%. One of the positive noted on this recent decline in the broad markets was the resilience of the IWM which is close to a new all-time high. Today could just be the other broad indices catching up to the already outperforming IWM but we cannot help but feel as though today was a perfect set-up for the IWM to lead all names higher and…
Late rally masks tough session
Index & Sector performance 10/15/14 The Market: A very volatile session in today’s trading which saw the S&P 500 (SPY) down 3% before a sharp last hour rally helped the index only finish down 0.75%. Without that late rally, the SPY would have been down year-to-date at the close. As has been the case of late, the Russell 2000 (IWM) outperformed finishing the session up over 1%. The best performing sector in today’s session was Energy (XLE). Like the SPY, the XLE was down much more earlier in the session but finished the session up 0.76% after a strong last…
Small Caps lead move lower
Index & Sector performance 12/11/13 The Market: Strong down day in the market with the S&P 500, Nasdaq and Russell 2000 closing down over 1%. The Russell 2000 has been leading the charge for the year but has underperformed of late including today posting the largest loss at 1.64%. After remaining relatively unchanged in overnight and early morning trading, the market started to slip in the pre-market about an hour before the open. Losses built the remainder of the day with the S&P 500 closing near the lows of the day and through the 20 Day SMA. In economic news…