September 21, 2018

Early dip is bought, finishes flat

The Market: Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led. The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs. In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by…

Off the 200 Day and up

Index & Sector performance 2/2/15 The Market: The S&P 500 (SPY) started the session lower but found support just slightly above the 200 day SMA which has not been visited since October 2014.  After an initial pop and then pullback the index rallied the remainder of the session to finish over 30 points off the lows.  So far in the after hours the index is holding the gains and consolidating.  Today’s action should be very promising for long traders and you know your stops — below today’s lows. The leading sector on the WSC Scoreboard was Energy (XLE) finishing up…

Tech leads quiet up session

Index & Sector performance 9/10/14 The Market: Administrative note: we will be traveling the remainder of the week so there will be no updates after tonight. A nice bounce back in the markets after yesterday’s late day sell off.  The leader in the broad indices was the NASDAQ (QQQ) keying, again, off Apple (AAPL) which finished the session up 3.07%. After being a relative outperformer yesterday in a bad tape, HeathCare (XLV) was the leader on the WSC Scoreboard today finishing the session up 0.70%.  Utilities (XLU), yesterday’s biggest loser, saw more downside follow-through finishing the session 0.44% lower.  Also…

Ceasefire helps stocks higher

Index & Sector performance 8/18/14 The Market: Strong strong session with the Dow (DIA) and Russell 2000 (IWM) closing up over 1% while the S&P 500 (SPY) and NASDAQ (QQQ) were not too far behind.  It appears the markets were able to build on Friday’s late day move off the lows being helped by optimism of a Ukraine-Russia ceasefire.  The IWM, which has spent the majority of the year in the red, is not only down 0.23% on the year. Multiple sectors posted strong performances including the Transportation (IYT), Retail (XRT), Industrials (XLI), and Financials (XLF) all up over 1%…

Markets stop slide, fight back

Index & Sector performance 8/4/14 The Market: After two strong down days, all 4 indices on the WSC Scoreboard managed to find bottoms and rally with the Russell 2000 (IWM) leading the charge finishing the day 0.89% higher.  One note of caution, volume was on the light side when compared to the previous two sessions.  Our suggestion would be to watch the first major pullback after today’s move.  If it is orderly then the market likely has unfinished business to the upside, otherwise we will likely see another push lower. In individual sectors it was green across the board except…

Market recovers after weak GDP

Index & Sector performance 6/25/14 The Market: After a quiet overnight session, the S&P 500 futures spiked lower after the Government announced worse than expected GDP estimates for the first quarter of the year but, after the open, buyers stepped in and all four main indices from the WSC Scoreboard closed higher. In individual sectors HeathCare (XLV) and Transportation (IYT) outperformed closing up 1.06% and 0.99% respectively.  The only sector closing lower on the WSC Scoreboard was Consumer Staples (XLP) finishing down 0.16%.  The leader in the XLV was Bristol-Myers Squibb (BMY) finishing up 2.96% after announcing positive Phase III…

Stong gains for shortened Op-Ex week

Index & Sector performance 4/16/14 The Market: From our recap Monday we noted that while the market still appeared vulnerable to the downside, we would also not be surprised to see oversold short term levels and the shortened holiday trading week provide a bounce.  We did not at that time realize that we would get both the downside and the rally all in one day but that is in fact what happened on Tuesday and today was a follow-through on that action. Tomorrow is the last day of trading for the week since the market is closed Friday in observance…

Choppy trading leaves the indices flat

Index & Sector performance 2/26/14 The Market: A choppy trading session to saw a sell off toward the open which ultimately was bought until midday when the S&P started to make its way back down toward and below the previous intraday lows.  Again buyers stepped in and were able to close the S&P 500 essentially flat on the day.     Companies scheduled to report earnings pre-market:     Analyst Comments:        

Strong sell off starts week

Index & Sector performance 2/3/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: EMR, ETN, ADM, CME, SE, HCA, SIRI, IP, BDX, MHFI, DLPH, BSX, KORS, FIS, CLX, AMG, SEP   Analyst Comments:         The Game Plan:

Icahn comments spark late day sell off

Index & Sector performance 11/18/13 The Market: It was a fairly quiet day in the markets until a comment from Carl Icahn appears to have started a late day sell off after noting that he could see the markets have a “big drop”.  This sent the S&P 500 down roughly 12 points in the final hour of trading In economic date the NAHB Housing Market Index fell slightly short of estimates posting a 54 when 56 was expected.  Today also some a mix of Fed speak and that continues tomorrow including Fed Chairman Bernanke at 7pm EST and President Obama…