November 18, 2018

S&P snaps 2 day losing streak

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…

Early pop leads to late day drop

Index & Sector performance 3/11/14 The Market: The  market rallied pre-market into the open, pulled back and went again but was unable to break through a pivot confluence resistance area.  The pullback into the noon EST period started to consolidate but the MACD was telling that more downside was likely.  As we reached the 2-2:30 pm EST time frame the S&P again started to weaken and broke to fresh lows for the day. We will be watching for $1860ES and then further $1850ES for support levels.  On the S&P500 cash index the 20 day SMA comes in around $1853. In…