October 17, 2017

The Nightcap

Daily-Wrap

The Market: A very strong session which was led by the NASDAQ (QQQ) and Dow (DIA) which the S&P 500 (SPY) not far behind.  It was interesting to see the Guggenheim S&P 500 Equal Weight index lag the S&P pointing to the gains being in the higher weighted stocks in the S&P 500 index.  Additionally the Russell 2000 (IWM) underperformed posting half the gains of the SPY. In individual sectors the day session was led by the Industrials (XLI) followed closely by the Materials (XLB).  Also closing up over 2% on the session was Technology (XLK) and that move looks…

S&P 500 holds 200 day SMA

Daily-Wrap

The Market: Sorry no comments tonight — traveling the remainder of this week.      Reporting EPS After the Close this week:   Reporting EPS Pre-Market this week:   Analyst Comments:

Low Volume Slow grind Higher

Daily-Wrap

Index & Sector performance 2/17/15 The Market: Monday the markets were closed in observance of President’s Day.  As trading started back Monday evening, the futures traded lower but by the open Tuesday all the loses were recouped and after an early session consolidation the index pressed toward new closing highs.  Volume was light but this could be due to the winter storms around the nation.  All broad indices on the WSC Scoreboard are noticeably higher YTD with the Dow (DIA) lagging and the NASDAQ (QQQ) leading. In individual sectors it a little more mixed.  HealthCare (XLV) was the clear leading…

Revisiting December’s lows

Daily-Wrap

Index & Sector performance 1/6/15 The Market: Oil appears to still be affecting the broad market and causing caution in investors as crude, which lost the psychological $50 level yesterday, traded down over $2 in today’s session. Yesterday we remarked that a gap down in the morning could be a short term trading opportunity to the long side but unfortunately we opened flat to slightly up, negative the set-up, and then continue to crawl higher in the first hour of trading before the indices began to sharply lose ground.  Today’s sharp drop eventually found support at the mid-December trading lows…

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…

Market awaits Jobs number

Daily-Wrap

Index & Sector performance DATE The Market: Today’s action started off higher after the ECB lowered rates and took added measures to try and stimulate the economy but the gains were short lived peaking about an hour after the open and faced selling pressure the remainder of the session.  It was not surprising to see follow-through to the downside after yesterday’s Bearish Engulfing candles but so far the downside has been contained. In individual sectors, the Transports (IYT) led gaining 0.72% while the Retail (XRT) was a close second finishing up 0.59% on the day and after spending a majority…

Early volatility wanes, dull day

Daily-Wrap

Index & Sector performance 6/2/14 The Market: Overall a quiet day in the market if you look at the overall performance but that does not show the early volatility the market saw when the S&P 500 futures dropped roughly 10 points at the open to only “V” bottom and spike back up near where the drop occurred.  After that it was tight trading the rest of the day leaving a small up day in the Dow & S&P with the NASDAQ and Russell 2000 closing on the downside. Today there was some drama around ISM Manufacturing PMI after it was…

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…

Analyst Comments

Upgrades - Downgrades image

Today’s featured analyst comment is by Goldman Sachs who upgraded Gartner, Inc. (IT) to Buy with an $85 price target.  IT has been on a strong run up over 38% the trailing 12 months and Goldman believes there is more in the tank.  Looking at the chart there is some work needed but we think they may be right. If IT can continue to digest under the recent highs while the MACD continues to recycle then this could lay the ground work for another leg higher.  What we are watching specifically on the stock is the MACD and the 50…