March 26, 2017

The NightCap

Daily-Wrap

The Market: Stocks had another tough session following a second day where the Chinese market was halted.  Chinese officials have removed the circuit breaker restrictions for tomorrow’s session and traders appear to be preparing for a volatile session but it will be interesting to see if allowing the index to freely trade will ultimately help it bottom — even if only for the short-term. Another session where no Sector saw gains but the relative outperformers were Retail (XRT), which was helped by Wal-Mart (WMT) after gaining 2.3% on the session, and Monday’s leader Utilities (XLU). Along with what happens overnight…

The NightCap

Daily-Wrap

The Market: We expected to see a tight trading range until the FOMC statement but instead we saw buyers in advance of the statement as the S&P 500 (SPY) pressed higher.  The the announcement came and there was a sharp sell-off but buyers came right back and all 4 major market indices on the WSC Scoreboard finished above the pre-FOMC announcement highs. As was expected by many, the FOMC left the Fed Fund Rates unchanged but, based on the comments, it appears a rate hike is on the table for December if the data warrants.  We also saw the committee…

The NightCap

Daily-Wrap

The Market: Overall it was another tight trading range session but the Russell 2000 (IWM) continued its underperformance and finished down over -1%.  It appears that traders may be on hold until the FOMC statement and rate decision tomorrow. Transportation (IYT) sector was the hardest hit on the WSC Scoreboard as the sector ETF finished down -2.65% followed by yesterday’s biggest loser, Energy (XLE), which closed down -1.2%.  The biggest gaining sector on the session was HealthCare (XLV) which finished up 1.84% and was helped by Allergan (AGN), Biogen Inc (BIIB), Vertex Pharmaceuticals Inc (VRTX), and Mylan NV (MYL) which all…

The NightCap

Daily-Wrap

The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting.  As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often  look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…

S&P snaps 2 day losing streak

Daily-Wrap

Index & Sector performance 2/10/15 The Market: The S&P 500 snapped a 2 day losing streak with a solid rally closing up over 1% on the session while the NASDAQ led the charge finishing up over 1.50% helped by Apple (AAPL) which closed at a fresh all time highs.  The Russell 2000 (IWM) was the laggard but still managed to finish up 0.67%. All the sectors on the WSC Scoreboard were higher with the exception of Energy (XLE) which was taking its cue from Crude’s slide today after running into the 50 day SMA.  Utilities (XLU) was the biggest gainer…

Low vol drift higher

Daily-Wrap

Index & Sector performance 12/3/14 The Market: Another low volume drift higher today which saw the Russell 2000 (IWM) lead and the NASDAQ (QQQ) lag even spending some time down on the session. In individual sectors, Consumer Staples (XLP) and Utilities (XLU) were the only two from the WSC Scoreboard to finish lower which Materials (XLB), Industrials (XLI), and Energy (XLE) finished up over 1%.  One name helping materials have such a strong session was LyondellBasell (LYB) which has been down significantly since September but finished today up over 2% and was up more than 3% intraday.  LYB is a…

Utilities big loser ahead of Jobs data

Daily-Wrap

Index & Sector performance 7/2/14 The Market: The WSC Scoreboard was relatively flat to mixed with the Dow (DIA), S&P 500 (SPY), and NASDAQ (QQQ) closing slightly higher while the Russell 2000 (IWM) finished 0.35% lower. In individual sectors, the Utilities (XLU) stood out as the biggest loser finishing 1.99% lower on the day and appears vulnerable to even more downside action after being the leader so far in 2014.  Every stock in the XLU finished down on the day with some finishing down over 3% including Exelon (EXC), FirstEnergy (FE), and Entergy (ETR) down 3.11%, 3.50%, and 3.25% respectively. …