The Market’s all a TWTR
Index & Sector performance 11/4/13 The Market: A gap higher in the S&P was quickly sold down to 11:30 am EST where the market found support and then rallied to the close making new highs for the day in the final few minutes. In economic data Factory orders came in lighter than expected and while there was some Fed speak, nothing too groundbreaking. Tomorrow we see ISM and Economic Optimism. Looming Thursday is the Unemployment Claims data which has a very low estimate and looks like a softball for the markets to beat. A big miss with already low expectations…
Shhh, Jobs data tomorrow
The Market: Not much in the way of action today as early gains met resistance in the previously highlighted areas around 1660-1663 which coincided with the 20 & 50 day SMA’s respectively. Utilities again were the under performer of the tracked sectors and retail sector leading on the upside with Sears (SHLD) and JC Penny (JCP) putting in strong showing with gains of 6.27% and 5.33%. Doesn’t it feel like all JCP needed was some big investor to bail to bottom? Today had a great deal of economic data including ISM Non-Man PMI which came in better than expected (as…
Week in Review
DJIA +35.17 (+0.25%) to 14,089.66; S&P 500 +3.52 (+0.23%) to 1,518.20; NASDAQ +9.55 (+0.30%) to 3,169.74 Friday was an interesting day as we went into the weekend before Sequester (sounds like an SAT word right?) and rumors were abound which helped drive the markets one way or the other. We did finally close with a small gain on the day which continued the markets impressive move off Wednesday’s lows right near the 50 Day SMA’s. We had what I thought was mixed economic data through-out the day which over overall possibly canceled itself out but also continues to show the shaky ground we stand on. That isn’t…
Daily Wrap
DJIA -20.88 (-0.15%) to 14,054.49; S&P 500 -1.31 (-0.09%) to 1,514.68; NASDAQ -2.07 (-0.07%) to 3,160.19 From the end of last night’s update: “What now? I think tomorrow could very well be lower and ideally I would like to see the market be up in the morning and then send the remainder of the day retracing which would leave the door open for Friday to finish the week higher. ” We essentially got what I was looking for and started off the day in the green and held there for a while finally turning lower after 2pm EST and closing near the lows for…