July 20, 2017

The NightCap

Daily-Wrap

The Market: A late day rally helped the market close well off the midday lows but all 4 major indices on the WSC Scorobard still finished down near or over 1%.  Based on the recent action, we expect to see lower levels in the short-term. In individual sectors, Retail (XRT) was the hardest hit sector on the WSC Scorboard with Priceline (PCLN) finishing down over 9% on the session after reporting EPS which beat expectations but guidance that fell short.  We will be watching Ctrip.com (CTRP) which is scheduled to report EPS tomorrow, November 10th, after the close — CTRP…

Weak ADP data helps market gap

Daily-Wrap

The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day…

XLU stands out in today’s action

Daily-Wrap

Index & Sector performance 2/18/15 The Market: A choppy session overall which ended up finishing flat.  Some negative divergence is building on the S&P 500 60 minute chart but, even when it leads to a pullback, the divergence can exist for many day.  We wouldn’t be surprised to see the index continue to meander and drift higher for the remainder of the week into Options expiration. In individual sectors it was the Utilities (XLU) leading the way and by a wide margin finishing up 2.37%.  We would be watching the XLU closely here to see if it can build on…

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…