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…
Week in Review
DJIA +8.37 (+0.06%) to 13,981.76; S&P 500 -1.59 (-0.10%) to 1,519.79; NASDAQ -6.63 (-0.21%) to 3,192.03 A pretty lack luster Friday to close off a lack luster week. There wasn’t a shortage of events and things the market could use to drive direction one way or the other but it simply chose not to. The market seems firmly pitted between valuations that may seem somewhat extended and technicals that would like a pullback but the continued accommodating environment from the Fed and also the Government as they continue to run deficits and even if cutting it is slow to not shock the economy. How the market…
Daily Wrap
DJIA -9.52 (-0.07%) to 13,973.39; S&P 500 +1.05 (+0.07%) to 1,521.38; NASDAQ +1.78 (+0.06%) to 3,198.66 The market has been flexing its muscle and trying to show many different things. If your a basketball fan you might say the market is trying to show it can take you to the hole and also hit the step back jumped. The market faced another down move today and ultimately looking back at the chart the first 5 minute bar of the day market the lows. The market continued a steady climb higher and likely used the Unemployment claims, which came in better than expected (341K vs 361K…
Analyst Comments
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