November 23, 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…

Can EPS decouple market from Oil?

Daily-Wrap

Index & Sector performance 1/12/15 The Market: We noted in the Thursday end-of-day write-up that the strong gains had to do with positive comments from Mario Draghi as well as Oil prices managing to stabilize for the second straight session.  Unfortunately after managing to hold in Friday,  Oil prices resumed their recent slide today finishing below $46/per barrel.  As we have noted in other write-ups and you can see elsewhere, Oil’s sharp decline brings in concern over global growth and particularly U.S. earnings.  Speaking of earnings, Aloca (AA) is scheduled to kick off the earnings season tonight and below you…

Low volume drift higher

Daily-Wrap

Index & Sector performance 11/10/14 The Market: Without any key news or economic data the market was happy to drift with the trend which is higher.  This drift higher in the markets has created some negative divergence on the intraday charts so we would not be surprised to see downside action early in the week.  However, at this time we would expect the losses to be contained and ultimately for that initial dip to be a buying opportunity for short term traders. Stand out sector to the upside was Transportation (IYT) which finished the day 1.34% higher followed by HealthCare…

Early momentum fades

Daily-Wrap

Index & Sector performance 8/11/14 The Market: Stocks started off the day building on Friday’s gains but near midday the S&P 500 topped out and then spent the rest of the day moving lower.  All 4 indices on the WSC Scoreboard finished the day higher but the NASDAQ (QQQ) and Russell 2000 (IWM) were the clear winners with the IWM gaining nearly 1%. The leading sector on the day was the Consumer Staples (XLP) but the stock in the index that stood out the most was to the downside and that is Dean Foods (DF).  DF finished the day down…

Low volume rally led by Russell 2K

Daily-Wrap

Index & Sector performance 5/20/14 The Market: An overall light volume day was led to the upside by the Russell 2000 followed by the NASDAQ 100.  In individual sectors, Utilities (XLU) led to the downside followed by the Consumer Staples (XLP) while the transportation index was the largest gainer with components Matson (MATX) and JetBlue (JBLU) up the most gaining 3.05% and 2.42% respectively.  MATX and JBLU both appear to be viable long trade candidates going forward. This is an extremely quiet Economic data week with a lot of Fed speak.  Earnings will play a role for individual stocks so…

S&P 500 remains above the 50 DSMA

Daily-Wrap

Index & Sector performance 4/7/14   The Market: Friday’s selling action continues on Monday as the S&P 500 index lost roughly 20 points.  Today’s lows in the SPDR S&P 500 ETF (SPY) correlated nicely with previous levers of reaction and the 50 day SMA.  If this short term support is lost we could see the cash index next targeting $1800 and even $1650-1700.  In the meantime, aggressive traders could look to use today’s lows as a level to trade again on the long side for a bounce.   Reporting EPS 4/8/14 Pre-Market: Only one name of note reporting EPS tomorrow…

Market starts on Tryptophan

Daily-Wrap

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…