The Market’s all a TWTR
Index & Sector performance 11/4/13 The Market: A gap higher in the S&P was quickly sold down to 11:30 am EST where the market found support and then rallied to the close making new highs for the day in the final few minutes. In economic data Factory orders came in lighter than expected and while there was some Fed speak, nothing too groundbreaking. Tomorrow we see ISM and Economic Optimism. Looming Thursday is the Unemployment Claims data which has a very low estimate and looks like a softball for the markets to beat. A big miss with already low expectations…
US Government shuts down and gains open up
Index & Sector performance 10/01/13 The Market: The old market adage Buy the rumor and Sell the news is somewhat in affect here today with the markets reaction to the Government shutdown. As we noted in last night’s Game Plan, with the realization of the shutdown now in affect and the worry of the shutdown gone, short term longs would look for opportunity to trade a bounce. A gap up was quickly consolidated after roughly 30 minutes of trading and then pressed higher until 12:30 pm EST. After 12:30 there was a roll over which took the index down until…
AAPL outshines BBRY buyout
Index & Sector performance 9/23/13 The Market: The market picked up early Monday where it left off Friday gaping lower on the open and continuing lower until roughly 11:30 am EST when the S&P 500 was able to bottom and turn with unfortunately what seems to be not much support or enthusiasm from traders. From the WSC Scoreboard, the largest drag on the Market today was the Financials (XLF) and leading them down was Regions Financial (RF) which closed down 2.27%. RF closed right at the 150 day SMA and if it cannot find support there the upward sloping 200…
Daily Wrap
DJIA -93.39 (-0.60%) to 15,518.74;S&P 500 -9.77 (-0.57%) to 1,697.37;NASDAQ -27.18 (-0.74%) to 3,665.77 The major indices lost ground today on lower than normal volume. As noted yesterday, this looks to be a lighter news week that previous with not as many big name earnings reports as well as not much economic data. The S&P 500 started lower and reached what would ultimately be the lows of the day after only 90 minutes of trading. After that point the market bounced and then consolidated from noon EST until the close. In economic data the Trade Balance came in much less than expected posting…
Daily Wrap
DJIA -46.23 (-0.30%) to 15,612.13;S&P 500 -2.53 (-0.15%) to 1,707.14;NASDAQ +3.36 (+0.09%) to 3,692.95 The Dow and S&P 500 closed slightly lower while the Nasdaq saw a small gain mainly do to a good day in trading for Apple (AAPL). This will likely be a much quieter week with not as many big names earnings reports or economic events but we did have PMI which came in better than analysts expected with a reading of 56. Tomorrow on the calendar we have Trade Balance at 8:30 am EST and then FOMC member Evans is speaking at 1 pm EST (fireworks not expected). As…
Daily Wrap
DJIA +106.29 (+0.69%) to 15,409.39;S&P 500 +10.46 (+0.63%) to 1,660.06;NASDAQ +20.92 (+0.70%) to 3,011.94 There were stocks moving today but the story was about the broad rally and especially gap higher in the market. At the highs the S&P 500 was up over 20 points from Friday’s close and while not necessarily attributable to one event seemed moe to be a snap back rally which started overseas in response to the previous week’s sell off. The market looks to be in a form of price discovery which at this juncture seems predominantly bullish but it is yet to be seen if the that will be the case and…
Daily Wrap
DJIA -21.73 (-0.16%) to 13,971.24; S&P 500 -0.92 (-0.06%) to 1,517.01; NASDAQ -1.87 (-0.06%) to 3,192.00 Today’s market held in a tight range and is reflected in the close in the S&P 500 which is down less than 1point. This week has a fair amount of data, fed speak and some scheduled Obama talk. I try and log it all and then update the numbers as they come out so visit the Event’s Calendar for the updates and there is also currently a dividends and splits list. The stock of the day today was Nordisk (NVO) which received an FDA Complete Response Letter indicating that the company’s insulin products will…
Week in Review
DJIA -158.20 (-1.21%) to 12,938.11; S&P 500 -15.67 (-1.10%) to 1,402.43; NASDAQ -25.60 (-0.86%) to 2,960.31; Thursday’s late day rally was something we were skeptic of and today started immediately with a gap lower in the S&P which did rally, not quite to even, but after 2pm EST the market started to drop and continued lower for the remainder of the day closing at lows of the day. Why? Forget the technicals for a minute. Monday is the 31st, Tuesday is a Holiday for the market and the first of the year which leaves this weekend as very important for…
Daily Wrap
DJIA -24.49 (-0.19%) to 13,114.59;S&P 500 -6.83 (-0.48%) to 1,419.83;NASDAQ -22.44 (-0.74%) to 2,990.16; Today started with gains but they were quickly lost and the market drifted lower the remainder of the day closing down 1/2% on the S&P 500. Trading in the after hours has been very tight and with tomorrow’s Unemployment Claims number scheduled to come out at 8:30 am I imagine all eyes will be focused on that unless we get some larger news out of Washington. As might be expected around the holiday season, volume was on the light side. Marvell Technology (MRVL) technology received bad…
Daily Wrap
Today the markets Started with a gap down over 10 points on the S&P 500 but quickly bottomed and started to rebound. That rebound took the index all the way back to positive territory resulting in a nearly 20 point rally off the lows. The index also retook the 200 Day MA but around 11:15 am EST the rally peaked and the midday slowly drifted back down morphing into a hard sell off into the close and leaving us at 1374.53 on the S&P 500. This marks the 3rd day closing below the 200 Day SMA. The 60 minute SPY…