Weak ADP data helps market gap
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…
Oil gets crushes while market dips
The Market: A small down day which could have looked worse if not for a late day rally off the lows. Interesting to see the leaders to the downside were the Dow (DIA) and Russell 2000 (IWM). We were looking for the market to close just off the lows and then gap down tomorrow for a short-term long opportunity but today’s end of day rally has changed that set-up. Overall we remain cautious on the broad market and believe the choppy trading of late will continue. Energy (XLE) led to the downside, again, as crude oil continues to slide reaching…
Greece rules headlines in slow session
Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%. Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery. Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…
Fed gains quickly given back
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…
Intraday swing leave only small gains
Index & Sector performance 4/28/14 The Market: After moving slightly higher in the overnight and early trading, the S&P 500 quickly dropped in the midday session before finding a bottom around 1:30 pm ET. While the S&P fell a few points short of making it back to the earlier intraday highs, it did manage to post a small gain on the day. The Dow led the major indices helped by a 4.2% gain from Pfizer (PFE) while the Russell 2000 closed slightly down on the day. Many big name stocks in the news including the aforementioned Pfizer (PFE) who…
Do you buy the dip?
Index & Sector performance 1/28/14 The Market: In the overnight session the futures managed to recover gaining nearly 20 points from Monday’s lows. When the Durables number was announced and came in much worse than expected the market puled back challenging support but that support held and by the open the market was back near the pre-market highs. The remainder of the day the S&P 500 stayed in a relatively tight trading range with all of the major indices closing higher. In Economic news the Durable Goods numbers came in much worse than expected with Core Durable Goods Orders posting…