March 19, 2024

Market push and pull continues

The Market: With concerns over volatility in China, weak Economic data, and the FOMC statement, the market gapped down and continued lower throughout the early trading session before marking another big intraday reversal.  After dipping below the 200 day SMA, the S&P managed to rally from over 25 points down to slightly up on the session in intraday trading but then couldn’t hold the gains and sold off into the close. Today’s action is actually a good micro representation of the push and pull in the market this year. As we noted last week, we expect volatility to continue and…

EoD gains mask intraday swing

Index & Sector performance 9/17/14 The Market: Early in the session the markets were quiet as traders awaited the FOMC statement and speculated if the wording of the statement would be changed.  The answer was that not much changed and specifically the Fed continues to state that they will keep key interest rates near zero for a “considerable time”.  The initial reaction to the release was a sharp decline but buyers quickly stepped in and the S&P 500 recovered and then rallied to fresh highs on the day before finishing the session back where it started. The leading sector on…

6 day win streak ends..new starts?

Index & Sector performance 4/23/14 The Market: Today’s session snapped a 6 day winning streak for the S&P 500 but the losses were small and maintained a very orderly structure throughout the day.  In after hours trading, the futures traded sharply higher helped by Apple’s (AAPL) earnings which beat EPS and revenue along with announcing a 7 for 1 stock split, increase in the buyback, and an 8% increase in the dividend. With tonight’s overnight action, the S&P 500 is now closing in on the all time highs .  Focus will continue to be on earnings especially with a very…

Off the 150 day and up

Index & Sector performance 2/5/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: PM, AET, EXC, CMI, NBL, K, PPL, PRGO, ADS, SIAL, WEC, TW, AAP, VMC, DO, TDC, KKR, SNA, CSL, NUS, ODFL, AOL, PTEN, USG, NYT, FSC, HCLP, NILE   Analyst Comments:       The Game Plan:

The Calm before Jobs data storm?

Index & Sector performance 1/9/14 The Market: A mixed consolidation day in S&P 500 saw the futures up in the pre-market only to sell off at the open.  That sell off persisted until 11am EST losing roughly 15 S&P points from the pre-market highs and then the S&P bottomed and staged a rally which didn’t make it back to the pre-market highs but did take back more than half of what was lost. In Economic data today, Unemployment claims came in better than expected posting a 330K number when 337K was expected but the previous week was revised about 6K…