Tech & Small Cap lead, S&P new highs
Index & Sector performance 5/27/14 The Market: After a lull in Economic releases last week and a Holiday Monday, today started with a slew of Economic data which posted better than expected results for Durable Goods orders, Home Price Index, and Flash Services PMI. The S&P which was already trading slightly higher preceded to rally into the early morning before seeing a midday dip followed by an end of day rally that took the S&P500 futures back to and slightly above the earlier highs. Tomorrow we get a break from Economic news but Thursday will be another big day with…
Easy come, easy go…for the Bears
Index & Sector performance 3/4/14 The Market: In overnight trading the S&P 500 broke out over our highlighted resistance just below $1850ES and never looked back ultimately not only regaining all that was lost on Monday but also adding a few points to close at a new all time high. The news attributed the move to an easing in the Russia/Ukraine situation after Putin reportedly stated that Russia would only use force as a last result. Tomorrow will be a very interesting day in the market especially coming off the previous two days of trading. If we start to see…
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…