S&P rejected @ 50 DSMA
Index & Sector performance 10/6/14 The Market: The markets start the session in positive territory but the S&P 500 (SPY) quickly ran into resistance at the 50 day SMA and spent the remainder of the day pulling back. The laggard on the session was the Russell 2000 (IWM) which was the first to go negative on the session finishing down 0.86% Today’s high in the SPY now becomes a key level to watch along with the 50 day SMA and downward sloping 20 day MA. This could end up being a choppy trading week. In individual sectors, Transportation (IYT) was…
Tech leads quiet up session
Index & Sector performance 9/10/14 The Market: Administrative note: we will be traveling the remainder of the week so there will be no updates after tonight. A nice bounce back in the markets after yesterday’s late day sell off. The leader in the broad indices was the NASDAQ (QQQ) keying, again, off Apple (AAPL) which finished the session up 3.07%. After being a relative outperformer yesterday in a bad tape, HeathCare (XLV) was the leader on the WSC Scoreboard today finishing the session up 0.70%. Utilities (XLU), yesterday’s biggest loser, saw more downside follow-through finishing the session 0.44% lower. Also…
Russell clear winner in mixed start to week
Index & Sector performance 6/9/14 The Market: All 4 major indices on the WSC Scoreboard started the week moving higher picking up where they left off last week including the small cap Russell 2000 which continued its recent outperformance. The quick start soon came to an end when each index made a top around noon ET which was never again revisited in today’s trading. While the Russell 2000 managed to finish respectfully higher for the day, the rest of the indices were flat to slightly down. We noted in Friday’s report last week that the S&P 500 closed outside of…
Retail sales beat, Unemployment drags
Index & Sector performance 12/12/13 The Market: The market continued picked up where it left losing more ground but not as dramatic as the 1% down yesterday. The majority of the losses where in the beginning part of the day with the market making the lows for the day around 12:30 pm EST and starting to rally. That rally halted around 3pm EST and the market used the last hour to sell off not quite making it back to the midday lows. In economic data, Retail Sales number beat expectations and with Core Sales doubling expectations posting a 0.4% and…