September 23, 2018

Market awaits Jobs number

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…

This down day came with volume

Index & Sector performance 7/8/14 The Market: *** Administrative Note: Due to traveling, this will be the last update for the week. *** A second straight day lower for all 4 broad market indices on the WSC Scoreboard but setting today apart from other recent down days was a noticeable pick-up in volume.  Leading the charge to the downside was the NASDAQ (QQQ) and Russell 2000 (IWM) both finishing 1.2% lower. We remain cautious on the overall broad market and as noted in last night’s report are watching the IWM closely.  Its failure to lead and make new highs with…

Russell leads Indices lower

Index & Sector performance 3/24/14 The Market: The Bull missed a great opportunity in our opinion when a late day rally stalled and failed to get above the 1856.50ES resistance and they even had the opportunity to close up on the day.  Now the 1852-56.50ES region should act as resistance and leaves the door open for an overnight drop toward 1840ES and then further 1827ES. In Economic Data we had Manufacturing PMI come in lighter than expected but the previous number was revised higher .  Tomorrow the market will be watching Consumer Confidence and New Home Sales.   Reporting EPS…