October 23, 2017

Increased chatter of a 10+% decline

Daily-Wrap

Index & Sector performance 4/3/14 The Market: A pre-market pop in the S&P 500 emini sent the index as high at 1887.50ES but that move was short lived and the index was trading lower by the open and continued lower throughout the early and midday trading sessions.  It wasn’t until the afternoon trading when the S&P bottomed and marched higher into the close.  The emini has continued higher in after hours trading closing in on the pre-market highs essentially negating the entire move lower in today’s session. It is worth noting that the ECB left rates unchanged and noted they…

Next target the 50 day SMA?

Daily-Wrap

Index & Sector performance 3/13/14 The Market: A strong down day in the market but coming into the day people may have thought that would be a result of a poor Unemployment Claims number but we actually saw a better than expected 315K (334K est).  After the report the index meandered higher into the open and then after peaking out above trend line resistance, turned and started what proved to be a day long decline. At 11:30 am we posted on StockTwits that the decline in the ES looked like it had lower to go especially due to the slope…

Market starts on Tryptophan

Daily-Wrap

Index & Sector performance 12/2/13 The Market: Overall not a very active day in this first full trading session after the Thanksgiving holiday and to start December.      Today’s action started with an early dip that was quickly bought and started to rally higher until 12:30 pm EST.  That is where the rally lost steam and started a descent back down toward the earlier lows.  The market reached and went through those lows finally closing at $1800 in the S&P 500.  It is unclear if this slow start to the month is about to start a slide or if it is…

Shhh, Jobs data tomorrow

Daily-Wrap

The Market: Not much in the way of action today as early gains met resistance in the previously highlighted areas around 1660-1663 which coincided with the 20 & 50 day SMA’s respectively.  Utilities again were the under performer of the tracked sectors and retail sector leading on the upside with Sears (SHLD) and JC Penny (JCP) putting in strong showing with gains of 6.27% and 5.33%.  Doesn’t it feel like all JCP needed was some big investor to bail to bottom? Today had a great deal of economic data including ISM Non-Man PMI which came in better than expected (as…