December 15, 2017

Greece today, FOMC tomorrow

Daily-Wrap

Index & Sector performance 6/15/15 The Market: An early gap down was attributed to their being no Greece bail-out deal over the weekend but the market found a bottom in early trading and drifted higher the remainder of the session.  If the market can hold today’s low then it can start to build a base but below and it looks like it could target 2050 quickly. Healthcare (XLV) was the only sector on the WSC Scoreboard to finish higher for the session and is still holding its 50 day SMA.  The biggest laggards were Industrials (XLI), Materials (XLB), and Technology…

Low volume drift higher

Daily-Wrap

Index & Sector performance 11/10/14 The Market: Without any key news or economic data the market was happy to drift with the trend which is higher.  This drift higher in the markets has created some negative divergence on the intraday charts so we would not be surprised to see downside action early in the week.  However, at this time we would expect the losses to be contained and ultimately for that initial dip to be a buying opportunity for short term traders. Stand out sector to the upside was Transportation (IYT) which finished the day 1.34% higher followed by HealthCare…

Lots of data yields flat finish

Daily-Wrap

Index & Sector performance 7/30/14 The Market: Lots of Economic Data/announcements in today’s session but when the dust settled it was surprisingly a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) leading while the Dow (DIA) finished slightly lower and the S&P 500 (SPY) finished slightly higher. The leading sector on the WSC Scoreboard was Retail (XRT) finishing the day up 1% however Retail remains the only individual sector on the WSC Scoreboard that is down for the year.  The laggard was the Utilities (XLU) and decisively so finishing the day down 1.69%.  We remain interested in some…

Choppy session ahead of Jobs

Daily-Wrap

Index & Sector performance 3/6/14 The Market: Overall today was a choppy session which started with an overnight breakout which couldn’t gain steam and retraced back to the breakout levels in early morning trading.  The market then found a bottom and rallied to the 1880ES pivot which acted as resistance twice finally sending the index back down toward the original breakout region in late day trading. We expect the choppy trading to continue until the Non-Farm payroll number tomorrow at 8:30am EST.  We have consensus estimates currently at 151K with an Unemployment number of 6.6%.  Below is a recap of…