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…

Will the recent Volatility continue?

Daily-Wrap

The Market: No comments tonight except to say that, after a volatile beginning, the market quieted down and consolidated to finish the week but we do not think the violent swings are over and expect more volatility next week. Hope you all have a wonderful weekend!       Reporting EPS 8/17/15 After the Close:   Reporting EPS 8/17/15 Pre-Market: The only name we are currently tracking is The Estee Lauder Companies (EL) with an estimate of $0.34.   Analyst Comments:

China’s action spills into global markets

Daily-Wrap

The Market: Stocks opened lower after China suffered its worst losing day in over 8 years but the S&P managed to find a bottom right at the 200 day SMA and has so far rallied off the lows with upside action continuing into the after market.  It will be interesting to see how China’s market reacts today and if the S&P can keep the momentum going through the overnight trading and into tomorrow’s open. Also don’t forget we have the FOMC Rate decision and Statement on Wednesday the 29th (full Economic Calendar below). Leading to the downside in today’s session…

Slow grind higher to start Holiday week

Daily-Wrap

Index & Sector performance 12/22/14 The Market We expected even lighter volume today then we saw but it was still much lighter than the previous sessions.  We would not be surprised to see the market continue to drift higher in a choppy manner throughout the holiday trading session and into the New Year. Tomorrow is the heaviest day for Economic data but we are not expecting fireworks.  If we do see a pullback we would expect it to be a buying opportunity for short term traders.       Reporting EPS 12/23/14 Pre-Market: Big name reporting tomorrow before the open…

The 20′s support today’s drop

Daily-Wrap

Index & Sector performance 12/8/14 The Market: The S&P opened lower but like every other recent micro pullback it found a bottom and started to rally higher.  The market again looked like it wouldn’t be denied a higher close but then after the initial morning pop the indices started to roll and continued lower until roughly 2pm ET when they found a bottom for the session and moved off the lows into the close. The lows on the S&P 500 (SPY) and NASDAQ (QQQ) correspond with the 20 day SMA and we will be looking to see if those lows…