March 19, 2024

XLE hit hard on overall mixed session

Index & Sector performance 10/27/14 The Market: A rumor Thursday of a doctor infected with the Ebola virus being rushed to an NYC hospital helped take the market off the highs and then in Thursday’s overnight session it was confirmed that the doctor indeed had Ebola which sent the futures spiking lower but by Friday morning they were off the lows from the overnight session and marched higher closing near Thursday’s intraday highs. Today was much more of a muted consolidation session with the S&P 500 cash index remaining within a roughly 13 point range which while not historically small…

New Ebola scare helps market off highs

Index & Sector performance 10/23/14 The Market: The market was cruising along today until roughly 2pm ET when the market turned and then started quickly losing ground.  Traders pointed to news that a doctor who had treated Ebola patients was rushed to the hospital in New York City.  The sell off was not enough to give back all the days gains but we closed well off the intraday highs. Many sectors from the WSC Scoreboard participated in the rally with the biggest gainer the Industrials (XLI) finishing up over 2% helped greatly by Union Pacific Corporation (UNP) and 3M (MMM)…

Late rally masks tough session

Index & Sector performance 10/15/14 The Market: A very volatile session in today’s trading which saw the S&P 500 (SPY) down 3% before a sharp last hour rally helped the index only finish down 0.75%.  Without that late rally, the SPY would have been down year-to-date at the close.  As has been the case of late, the Russell 2000 (IWM) outperformed finishing the session up over 1%. The best performing sector in today’s session was Energy (XLE).  Like the SPY, the XLE was down much more earlier in the session but finished the session up 0.76% after a strong last…

Merger denied, collaboration approved

Index & Sector performance 7/16/14 The Market: A small up session in the market was helped by solid earnings reports in the morning and a potential huge media merger between Time Warner (TWX) and Twenty First Century Fox (FOXA).  FOXA offered $85/share but were turned down by TWZ.  This sent shares of TWX screaming higher finishing the day up 17.07% as traders reevaluated TWX’s worth and also speculated on increased offers.  In other corporate news, Apple (AAPL) announced they will be teaming up with IBM (IBM) to provide business mobile solutions.  BlackBerry (BBRY) was negatively affected by the news finishing…

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…