December 16, 2018

The Nightcap

The Market: A very strong session which was led by the NASDAQ (QQQ) and Dow (DIA) which the S&P 500 (SPY) not far behind.  It was interesting to see the Guggenheim S&P 500 Equal Weight index lag the S&P pointing to the gains being in the higher weighted stocks in the S&P 500 index.  Additionally the Russell 2000 (IWM) underperformed posting half the gains of the SPY. In individual sectors the day session was led by the Industrials (XLI) followed closely by the Materials (XLB).  Also closing up over 2% on the session was Technology (XLK) and that move looks…

Early dip is bought, finishes flat

The Market: Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led. The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs. In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by…

Hospitals rocket as Supreme Court rules

  The Market: After an early morning small pop, which helped work off some of the very short-term oversold levels, the market declined the rest of the day finishing near the session’s lows. Energy (XLE) was the largest losing sector on the WSC Scoreboard followed closely by Transportation (IYT) which was the biggest loser yesterday.  However, we would be watching the IYT as it appears to be coming into a support region and could soon provide a trade set-up to the long side. Health Care (XLV) was the lone green sector on the Scoreboard as the Supreme Court ruled that…

Tight trading ends with pop higher

Index & Sector performance 11/18/14 The Market: After multiple sessions trading in a tight range the broad indices broke-out to new highs.  It is worth noting that volume was again light but that has been the case throughout much of this recent rally after the mid October bottom.  In the after hours session the futures started to give back some of today’s gains so we will be looking to see if today was a false breakout which gives way to a pullback or if the indices can hold. In individual sectors, HealthCare (XLV) led finishing 1.61% higher helped by strong…

Tech & Small Cap lead, S&P new highs

Index & Sector performance 5/27/14 The Market: After a lull in Economic releases last week and a Holiday Monday, today started with a slew of Economic data which posted better than expected results for Durable Goods orders, Home Price Index, and Flash Services PMI.  The S&P which was already trading slightly higher preceded to rally into the early morning before seeing a midday dip followed by an end of day rally that took the S&P500 futures back to and slightly above the earlier highs. Tomorrow we get a break from Economic news but Thursday will be another big day with…