September 24, 2018

Early dip is bought, finishes flat

The Market: Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led. The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs. In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by…

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)…

No Summers….Yee Haw!

The Market: After Larry Summers took himself off the Fed Chair block, the markets baked in expectations of Janet Yellen who many feel will be more accommodating than Summer may have been.  The possibility of more stimulus from the fed or at least the likelihood that stimulus would persist was enough to send S&P 500 futures gaping higher Sunday evening and showing strength early in the trading session but the open marked the highs and the S&P 500 lost ground the remainder of the day closing 7 points off the highs. Economic data was light today but also ignored due…