January 22, 2018

Volatility & Chop continues

Daily-Wrap

The Market: Volatility continues to be the name of the game which is why you can have a 40+ point day like today and still have the S&P 500 within a range/wedge.  While it is possible that we extend today’s rally by gaping higher tomorrow, it is not our expectation and if we do open higher tomorrow we would watch the downward sloping 20 day SMA as resistance. Overall, a light Economic Calendar this week Thursday and Friday having the most significant data points (Unemployment Claims, PPI, and Consumer Sentiment).       Reported EPS 9/8/15 After the Close:  …

Fed gains quickly given back

Daily-Wrap

Index & Sector performance 10/9/14 The Market: All the gains saw from yesterday’s Fed driven rally were taken back in today’s trading with the Dow (DIA) and S&P 500 (SPY) closing down nearly 2% while the Russell 2000 (IWM) lost 2.7%.  The NASDAQ (QQQ) was helped by Apple (APPL) which managed to post a small gain of 0.22% on the session but the QQQ’s still finsihed 1.62% lower. Some big numbers put up across the sectors led by Energy (XLE) which finished down 3.67% and is now over 4% lower on the year.  The XLE underperforming is not new but…

Early dip met with strong buying

Daily-Wrap

Index & Sector performance 2/13/14 The Market: The markets began to dip overnight and into early morning trading.  Weaker than expected economic data didn’t help but just as the market officially opened the bottom was put in and the S&P 500 spent the remainder of the day rallying only taking a short midday break before continuing on to made the highs of the day near the close.   The following noteworthy companies are scheduled to report earnings before tomorrow’s open: ALE, BAM, COTY, CPB, DTE, H, IPG, IPGP, ITT, JMP, LECO, LPNT, MINI, POR, RRGB, SJM, SNI, TRW, VFC, VTR,…

Market dips early but fights back

Daily-Wrap

Index & Sector performance 1/21/14 The Market: This is the type of market that frustrates both the Bull & the Bears.  Strong moves in each direction serve to whip weak traders our of their positions.  After a very light futures trading session Monday with the Stock Market closed, the S&P 500 futures pressed higher in late Monday/early Tuesday trading.  Just before the open the futures printed $1844 and then started to sell off right at the open.  The market finally found a bottom near noon EST but only after losing roughly 18 points from the pre-market highs.  The S&P 500…

Apple finally lands China

Daily-Wrap

Index & Sector performance 12/23/13 The Market: The market was able to produce a gap higher to start this shortened trading week which will include a half day of trading Christmas eve and the market will be closed Wednesday December 25th in observance of Christmas.  After the gap itself the S&P remained in a roughly 4-5 point trading range the entire day on light volume. There was a fair amount of economic data released today but nothing that really tipped the balances.  Core PCE and Consumer spending came in right at expectations while Personal Income slightly missed (0.2% vs. 0.4%…