September 23, 2018

The NightCap

The Market: Overall it was another tight trading range session but the Russell 2000 (IWM) continued its underperformance and finished down over –1%.  It appears that traders may be on hold until the FOMC statement and rate decision tomorrow. Transportation (IYT) sector was the hardest hit on the WSC Scoreboard as the sector ETF finished down -2.65% followed by yesterday’s biggest loser, Energy (XLE), which closed down -1.2%.  The biggest gaining sector on the session was HealthCare (XLV) which finished up 1.84% and was helped by Allergan (AGN), Biogen Inc (BIIB), Vertex Pharmaceuticals Inc (VRTX), and Mylan NV (MYL) which all…

The NightCap

The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting.  As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often  look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…

Holiday Fed combo = low vol

The Market: A combination of the Rosh Hashanah (from sunset Sept 13th to nightfall Sept 15th) and traders waiting to see what the FOMC will say Thursday yielded a low volume choppy session which saw the markets finish slightly lower. There are not many earnings reports scheduled for this week but there are some noteworthy names including Oracle (ORCL), Adobe (ADBE), FedEx (FDX), and Rite Aid (RAD). No Economic data today but the remainder of the week is fairly packed with the aforementioned FOMC Rate decision and Statement scheduled for Thursday.       Reported EPS After the Close this…

China’s action spills into global markets

The Market: Stocks opened lower after China suffered its worst losing day in over 8 years but the S&P managed to find a bottom right at the 200 day SMA and has so far rallied off the lows with upside action continuing into the after market.  It will be interesting to see how China’s market reacts today and if the S&P can keep the momentum going through the overnight trading and into tomorrow’s open. Also don’t forget we have the FOMC Rate decision and Statement on Wednesday the 29th (full Economic Calendar below). Leading to the downside in today’s session…

Market shakes off Greece

Index & Sector performance 2/5/15 The Market: Sorry, no comments at this time but please check back later.     Reporting EPS 2/5/15 After the Close:   Reporting EPS 2/6/15 Pre-Market: Analyst Comments:

S&P finds support at 20 day SMA

Index & Sector performance 3/12/14 The Market: Overnight trading took the S&P 500 futures index down to our target region of $1857-50 with the low of the session printing $1853.75ES right near the open which correlated with the S&P 500 cash index touching the 20 day SMA.  From there we bounced and then spend the rest of the day consolidating in a flag which has broken to the upside in after hours but with not much gusto.  Until the index clears the $1870-72.50ES area we will consider the potential for more downside. Tomorrow is the heaviest day of the week…

Early pop leads to late day drop

Index & Sector performance 3/11/14 The Market: The  market rallied pre-market into the open, pulled back and went again but was unable to break through a pivot confluence resistance area.  The pullback into the noon EST period started to consolidate but the MACD was telling that more downside was likely.  As we reached the 2-2:30 pm EST time frame the S&P again started to weaken and broke to fresh lows for the day. We will be watching for $1860ES and then further $1850ES for support levels.  On the S&P500 cash index the 20 day SMA comes in around $1853. In…