March 29, 2024

Indices take back losses plus

Index & Sector performance 5/22/14 The Market: Overall today was a quiet day in the market which saw green across the entire WSC Scoreboard with the Dow and NASDAQ leading the charge followed closely by the S&P and finally the Russell 2000 which is getting use to lagging.  At 2pm EDT the FOMC minutes were released and discussed risks to the economy including U.S. housing, the Russia-Ukraine situation, and China’s economic slow down but this news did not appear to bother traders. Tomorrow is be the biggest economic data day of the week which includes Unemployment Claims and Existing Home…

Choppy session ahead of Jobs

Index & Sector performance 3/6/14 The Market: Overall today was a choppy session which started with an overnight breakout which couldn’t gain steam and retraced back to the breakout levels in early morning trading.  The market then found a bottom and rallied to the 1880ES pivot which acted as resistance twice finally sending the index back down toward the original breakout region in late day trading. We expect the choppy trading to continue until the Non-Farm payroll number tomorrow at 8:30am EST.  We have consensus estimates currently at 151K with an Unemployment number of 6.6%.  Below is a recap of…

Analyst Comments

Today’s recap of upgrades, downgrades, initiations and price target charges (or relevant stock notes & price target reiterations) I found.  If you have any I missed or want to share any in the future then please email me! You can view these each day as I find them in the Upgrades/Downgrades section.

Daily Wrap

DJIA +48.92 (+0.32%) to 15,105.12; S&P 500 +6.73 (+0.41%) to 1,632.69; NASDAQ +15.36 (+0.52%) to 2,968.24 The market continues to grind higher during.  Today started with a gap lower which like many others in the past was quickly bought up and sent to new highs.  There was a brief downdraft late in the day sending the markets back down toward even on the day but yet again the bulls stepped in and not only regained all those late losses but again extended higher into the close.  Tomorrow we have  Unemployment claims and I show estimates at 333K with a reminder that last week’s number was the…

Week in Review

DJIA +172.79 (+1.35%) to 13,009.68 S&P 500 +18.12 (+1.30%) to 1,409.15 NASDAQ +40.30 (+1.38%) to 2,966.85 This has been the standard holiday trading that we have been highlighting.  Lower volumes and a drift higher.  The recent lows have provided a nice trade and today was more than just an up day with the S&P gapping higher and continuing all, albeit a half, day.  It is very difficult to get bearish during a week like this and in the face of moves like this and rightfully so but today, as we were noting on Stock Twits (WSConsensus), is the kind of day you want to be…

Daily Wrap

DJIA +207.65 (+1.65%) 12,795.96;  S&P 500 +27.01 (+1.99%) 1,386.89;  NASDAQ +62.94 (+2.21%) 2,916.07 Today was a classic “Gap and Go” day where the markets started higher and continued higher for the remainder.  The S&P 500 is just getting into the range we were looking for on a bounce.  While upside should now be tempered, this is also a holiday trading week and in low volume weeks the market can have a tendency to drift higher.  I still would expect the 20 day MA to be resistance and a potential shorting opportunity for quick traders. The stocks making moves today, ummm,…