October 17, 2017

Earnings should take center stage

Daily-Wrap

The Market: Not much movement in today’s action as we saw a drop in volume across all the major Indices.  The overnight session saw futures move lower which seemed primarily due to some exhaustion in the markets but not helping was China’s GDP numbers which met expectations but slowed compared to the prior quarter.  With this being a light Economic Data week, we expect focus to be on individual stocks as they report earnings.  Below is a list of names that reported tonight after the close and that will report tomorrow with even more listed in the Events Calendar. In…

Market push and pull continues

Daily-Wrap

The Market: With concerns over volatility in China, weak Economic data, and the FOMC statement, the market gapped down and continued lower throughout the early trading session before marking another big intraday reversal.  After dipping below the 200 day SMA, the S&P managed to rally from over 25 points down to slightly up on the session in intraday trading but then couldn’t hold the gains and sold off into the close. Today’s action is actually a good micro representation of the push and pull in the market this year. As we noted last week, we expect volatility to continue and…

Market continues to rebound

Daily-Wrap

The Market: Stocks continue to chug along after last week’s impressive reversal on Wednesday.  Today was another turn around session which saw the S&P 500 gap down roughly 12 points before firming up in very early trading and then rallying the rest of the session to finish up over 9 points.  Above 2080 in the S&P 500 and it looks like the good times can continue. HealthCare (XLV) was the leader in individual sectors finishing up 1.01% followed closely by Consumer Discretionary (XLY) which closed up 0.96%.  Today’s underperformer was Consumer Staples (XLP) which finished flat on the session hurt…

Pop off support as FOMC looms

Daily-Wrap

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…

HealthCare gains as market slides

Daily-Wrap

Index & Sector performance 3/4/15 The Market: Ultimately, only a a small sell off in the markets after the S&P 500 rallied off the lows which coincided nicely with the upward sloping 20 day SMA.  Aggressive traders could certainly look to use today’s low to trade against. In Individual sectors, HealthCare (XLV) was the lone gainer finishing up 0.48% while the Industrials (XLI) led to the downside finishing 0.78% lower followed closely by Consumer Staples (XLP) and Financials (XLF) which finished down 0.70% and 0.61% respectively.  The biggest loser so far for 2015 is the Utilities (XLU) which is now…

Greece rules headlines in slow session

Daily-Wrap

Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%.  Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery.  Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…

Market shakes off Greece

Daily-Wrap

Index & Sector performance 2/5/15 The Market: Sorry, no comments at this time but please check back later.     Reporting EPS 2/5/15 After the Close:   Reporting EPS 2/6/15 Pre-Market: Analyst Comments:

Russell leads overall dull session

Daily-Wrap

Index & Sector performance 11/24/14 The Market: An overall dull session with the S&P 500 (SPY) and Dow (DIA) barely moving while the NASDAQ (QQQ) and Russell 2000 (IWM) led.  As is expected for the remainder of this shortened holiday week, volume was very light. In individual sectors it was Retail (XRT) posting another great session up 1.32%.  Today the index was greatly helped by Outerwall (OUTR), operators of Coinstar and Redbox, which finished up 12.32%.  Also chipping in was Best Buy (BBY) up 2.29% and Foot Locker (FL) up 3.45%.  After spending much of the year down, the XRT…

Financials help S&P to new highs

Daily-Wrap

Index & Sector performance 8/21/14 The Market: The 4 major indices drifted higher in today’s session but not by much and all on lower volume which has been a trend. Mixed bag across the individual sectors but the clear winner was the Financials (XLF) finishing the day up 1.18%.  The big standout in the sector was Bank of America (BAC) which finished the day up over 4% and looks poised for a run back to the March 2014 highs of $18.  If BAC is indeed in rally mode we would expect today’s lows to not be breached.  Also having a…

Off the 150 day and up

Daily-Wrap

Index & Sector performance 2/5/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: PM, AET, EXC, CMI, NBL, K, PPL, PRGO, ADS, SIAL, WEC, TW, AAP, VMC, DO, TDC, KKR, SNA, CSL, NUS, ODFL, AOL, PTEN, USG, NYT, FSC, HCLP, NILE   Analyst Comments:       The Game Plan: