December 15, 2017

Will the recent Volatility continue?

Daily-Wrap

The Market: No comments tonight except to say that, after a volatile beginning, the market quieted down and consolidated to finish the week but we do not think the violent swings are over and expect more volatility next week. Hope you all have a wonderful weekend!       Reporting EPS 8/17/15 After the Close:   Reporting EPS 8/17/15 Pre-Market: The only name we are currently tracking is The Estee Lauder Companies (EL) with an estimate of $0.34.   Analyst Comments:

Weak ADP data helps market gap

Daily-Wrap

The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day…

Dollar ralley continues as Market slides

Daily-Wrap

Index & Sector performance 3/10/15 The Market: A strong down session across the board with no index or sector spared.  We noted yesterday that the action to the upside appeared to not have conviction and today the lack of buying turned into selling.  Traders pointed to concerns over the eventual rate hike from the Fed and the strength in the Dollar as reasons for concern. We expect to see some form of a bounce as we have started to see positive divergence set-up on the shorter term intraday charts of the S&P 500 (SPY) and NASDAQ (QQQ) but any moves…

Market churns while XLU heads lower

Daily-Wrap

Index & Sector performance 2/25/15 The Market: Another day of churn as the market continues to grind with an upward bias.  As we posted over at StockTwits we are starting to see a lot of negative divergence setting up on the MACD.  Divergence is not a trigger itself but is showing signs that each move higher comes with less momentum and excitement. Utilities (XLU) was the leader to the downside and a name we recently posted about in the Charts section.   After seeing a lot of people bullish on the name, we laid the road map we felt the Bulls…

Off the 200 Day and up

Daily-Wrap

Index & Sector performance 2/2/15 The Market: The S&P 500 (SPY) started the session lower but found support just slightly above the 200 day SMA which has not been visited since October 2014.  After an initial pop and then pullback the index rallied the remainder of the session to finish over 30 points off the lows.  So far in the after hours the index is holding the gains and consolidating.  Today’s action should be very promising for long traders and you know your stops — below today’s lows. The leading sector on the WSC Scoreboard was Energy (XLE) finishing up…

Yellen to the rescue

Daily-Wrap

Index & Sector performance 12/17/14 The Market: Fueled by continued caution from the Fed in raising rates and a rebound in Oil prices, the broad indices roared higher with the Russell 2000 (IWM) leading the charge finishing up over 3%. We noted in Monday’s comments that a gap lower Tuesday could be a great trading opportunity.  For anyone that did not just day trade Tuesday’s gap down and are still holding, we would be using relatively tight stops to manage the position as there is still some concern lower levels could be seen before this decline is over.    …

BIIB helps XLV finish up over 26% YTD

Daily-Wrap

Index & Sector performance 12/2/14 The Market: It was a solid session following Monday’s drop with the Russell 2000 (IWM) clearly leading and with advancers leading decliners by roughly 2:1. In Individual sectors it was Transportation (IYT) leading up 1.18% followed closely by Energy (XLE), which is still trying to recover from Friday’s big gap down, up 1.16%, and lastly HealthCare (XLV) which finished 1.12% higher and is now up over 26% year-to-date.  Helping the XLV today was Biogen Idec (BIIB) which gained 6.43% on positive results from an early-stage Alzheimer’s drug trial.  BIIB is a name to watch.  Above…

S&P showing signs of indecision

Daily-Wrap

Index & Sector performance 11/13/14 The Market: The NASDAQ (QQQ) led today’s trading  while the Russell 2000 (IWM) was the clear laggard.  The S&P 500 (SPY) is refusing to break with the exception of very small sharp pullbacks which are short lived.  Volume over the past two days remains light although is an uptick from earlier in the week.  We view the current action as indecision as the SPY wrestles with price discovery and ultimately expect lower levels to be seen. Energy (XLE) led the WSC Scoreboard sectors lower giving back some of the recent hard fought gains but did…

ECB helps U.S. Dollar & market higher

Daily-Wrap

Index & Sector performance 11/6/14 The Market: Comments from ECB President Mario Draghi suggesting that the central bank is committed to stimulating the region’s economy helped send the S&P 500 (SPY) and the U.S. Dollar higher on the session.  As would be expected the Euro/Dollar cross was under pressure finishing the U.S. trading session at new 2 year lows. A strong dollar is not a bad thing and increases global purchasing power of U.S. companies and individuals.  However, as we saw recently with the Trade Balance, a strong dollar can hurt exports.  Coupled with concerns over crude oil’s recent decline…

XLE hit hard on overall mixed session

Daily-Wrap

Index & Sector performance 10/27/14 The Market: A rumor Thursday of a doctor infected with the Ebola virus being rushed to an NYC hospital helped take the market off the highs and then in Thursday’s overnight session it was confirmed that the doctor indeed had Ebola which sent the futures spiking lower but by Friday morning they were off the lows from the overnight session and marched higher closing near Thursday’s intraday highs. Today was much more of a muted consolidation session with the S&P 500 cash index remaining within a roughly 13 point range which while not historically small…