June 25, 2017

The NightCap

Daily-Wrap

The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday.  Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data.       Reported EPS 11/3/15 After the Close:   Reporting EPS…

Tech stocks lead sell-off

Daily-Wrap

Index & Sector performance 5/6/14 The Market: Last night we noted 1872ES as a key level to watch.  If it held as overnight support then the index could look to target Friday’s 1886ES highs but if lost then we could see Monday’s lows of 1860.50ES tested and then 1850ES.   In overnight trading the S&P was only able to reach 1881.50ES falling short of Friday’s highs and by the open the futures were sitting at our key 1872ES level.  After some initial jostling around the 1872ES level, the index started to roll over in midday trading reaching as low as…