Strong up day ahead of Jobs
Index & Sector performance 2/6/14 The Market: In the News: The following noteworthy companies are scheduled to report earnings before tomorrow’s open: CI, MCO, WYN, LH, BPL, APO, CBOE, MSG, FLIR Analyst Comments: The Game Plan:
Market starts on Tryptophan
Index & Sector performance 12/2/13 The Market: Overall not a very active day in this first full trading session after the Thanksgiving holiday and to start December. Today’s action started with an early dip that was quickly bought and started to rally higher until 12:30 pm EST. That is where the rally lost steam and started a descent back down toward the earlier lows. The market reached and went through those lows finally closing at $1800 in the S&P 500. It is unclear if this slow start to the month is about to start a slide or if it is…
Buy the rumor – Sell the news?
Index & Sector performance 10/16/13 The Market: Another strong day in the market sent the S&P 500 index over 23 points higher after a brief consolidation day yesterday. What started as a small gap quickly ran in the first hour of trading eventually topping at 11:15 am EST. The market then consolidated until 2:30 pm EST when it bottom and started a rally back toward the highs of the day. Amidst a light economic data week, the news of Washington and the pending debt deal have continued to drive attention and trader reaction. Ahead of tomorrow’s Unemployment data (357K Consensus)…
Daily Wrap
DJIA -32.41 (-0.21%) to 15,451.85;S&P 500 -6.24 (-0.37%) to 1,676.26;NASDAQ -8.99 (0.25%) to 3,598.50 A relatively boring down day as the highs for the day were marked in the opening minuted and then the S&P 500 to lose ground until it bottomed around 1:30 with some small positive divergences on the 5 minute MACD and then rallied until 2:30 pm EST where it again lost ground but held above those earlier lows. The market spent the last 30-40 minutes rallying but never regaining the 2:30 pm highs. In economic news we had CPI data with the core meeting expectations of up 0.2%…
Daily Wrap
DJIA +80.03 (+0.53%) to 15,040.62;S&P 500 +13.66 (+0.85%) to 1,622.56;NASDAQ +13.16 (+0.45%) to 2,950.30 The looked poised to resume its downward move into Friday’s jobs number but just after noon EST firmed up and started an impressive rally off the lows which also continued into the after market (so far). From the lows to the close the market rallied nearly 24 points. In economic news today we had Unemployment claims which came in roughly inline with a 346K number. As alluded to earlier, tomorrow we get Non-farm Employment data and I have current forecasts at 167K and 7.5% rate. SodaStream (SODA) got an initial pop in…
Week in Review
DJIA +10.37 (+0.07%) to 14,547.51; S&P 500 +13.64 (+0.88%) to 1,555.25; NASDAQ +38.51 (+1.40%) to 2,780.46 In Thursday night’s recap I noted that the bears were not yet in total control but the bulls needed to get the index moving or there could be a further imminent drop. Friday was able to firm up and take back some control but you wouldn’t know it by watching the Dow which only pressed into positive territory within the last hour of trading. The broader indices were much stronger. Weighing on the Dow were three big names which reported EPS that were not met with great…
Daily Wrap
DJIA +157.58 (+1.08%) to 14,756.78; S&P 500 +22.21 (+1.43%) to 1,574.57; NASDAQ +40.94 (+1.46%) to 2,838.41 Someone sounded an “all clear” notice today and the major indices all had nice gains including the S&P 500 which closed up over 1.4% for the day and at the day’s highs. The bottom was actually made in the futures yesterday not long after the close. Sometimes when you see bounces like this you will see an index like the Dow lead which I am always a skeptic of but today the S&P 500, Russell 2000 and Nasdaq Composite all outpaced the Dow to the upside with the…
Daily Wrap
DJIA -265.86 (-1.79%) to 14,599.20; S&P 500 -36.49 (-2.30%) to 1,552.36; NASDAQ -59.01 (-2.07%) to 2,797.47 Today was a very active day in the markets but it is appropriate to take the time to stop and send well wishes and prayers to those involved in the Boston Marathon incident which as I write is still unfolding with not many details but clearly today people were hurt and my prayers go to them and their family. The market began with a small gap lower on weak Chinese data and overall global outlook concerns which continued to snowball into larger losses which were not just…
Week in Review
DJIA -0.08 (0.00%) to 14,865.06; S&P 500 -4.52 (-0.28%) to 1,588.85; NASDAQ -2.59 (-0.09%) to 2,856.48 Friday started with a small gap down that wasn’t greeted with the usual snap up buying and this helped lay the ground work for an early morning swoon taking the S&P 500 down over 10 points from Thursday’s close. Right around 11am EST the S&P bottomed and for the remainder of the day was able to grind higher leaving a relatively small loss for the day (the Dow nearly closed positive). This type of action is not uncommon at stretched levels as well as when there is…
Daily Wrap
DJIA +47.46 (+0.34%) to 14,018.70; S&P 500 +2.42 (+0.16%) to 1,519.43; NASDAQ -5.51 (-0.17%) to 3,186.49 With no major economic data scheduled for announcement today, the markets were quiet today before the President’s speech tonight and often a quiet market will just consolidate or drift into the trend which has been undoubtedly higher since the November bottom. Not so quite today was Apple Computers (AAPL) and last night I noted that there was expectation going into the Goldman Sachs Technology and Internet Conference piggy backing on David Einhorn’s comments. Often in these cases it is a buy the rumor sell the news event and today that…