June 24, 2017

The NightCap

Daily-Wrap

The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday.  Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data.       Reported EPS 11/3/15 After the Close:   Reporting EPS…

Oil gets crushes while market dips

Daily-Wrap

The Market: A small down day which could have looked worse if not for a late day rally off the lows.  Interesting to see the leaders to the downside were the Dow (DIA) and Russell 2000 (IWM).  We were looking for the market to close just off the lows and then gap down tomorrow for a short-term long opportunity but today’s end of day rally has changed that set-up. Overall we remain cautious on the broad market and believe the choppy trading of late will continue. Energy (XLE) led to the downside, again, as crude oil continues to slide reaching…

Short week, low vol, mixed results

Daily-Wrap

Index & Sector performance 6/30/14 The Market: An overall mixed session saw the Russell 2000 and NASDAQ finish higher while the Dow and S&P 500 finished slightly lower.  Volume was down which will likely be a trend this shortened holiday trading week. In Individual sectors, the Utilities (XLU) led and earlier in the session the Transportation sector (IYT) was a relatively close second but a late day sell off put it just behind the Materials (XLB) and in-line with Retail (XRT).  The largest gainer in the Utilities was Pinnacle West Capital Corporation (PNW) which finished up 2.41% and looks like…