March 19, 2024

News & EPS will dominate week

Index & Sector performance 10/20/14 The Market: This is a very light Economic data week but don’t worry.  Earnings will more than make up for it with a Packed schedule all the way through to Friday. All the indices on the WSC Scoreboard were nicely higher but the Dow (DIA) was the clear laggard after IBM (IBM) lost over 7% due to a disappointing Q3 report which missed on revenues and EPS.  The company also announced that they would no longer be able to meet its goal of $20/share in operating EPS by 2015. Solid results across all the sectors…

Russell outperforms in ugly session

Index & Sector performance 10/13/14 The Market: Another 1+% down day across the major indices on the WSC Scoreboard except for the Russell 2000 (IWM) which finished the session down only 0.42%.  YTD the IWM is still the clear loser down 9.55% but today’s outperformance is interesting and something to watch.  IWM’s underperformance starting earlier in the year was a warning so if it begins to outperform on a consistent basis going forward it should be noted. It does not feel like very long ago when the only down sector on the WSC Scoreboard Was Retail (XRT) but now we…

Early dip finds interested buyers

Index & Sector performance 7/28/14 The Market: Early moves lower in the broad market indices soon found buyers and managed to finish the day near flat on the session with the Russell 2000 (IWM) continuing to lag.  The DOW (DIA) played MA pinball with the lows in the early session touching the 50 day EMA while the highs of the session back tested the 20 day EMA. The stand out sector from the WSC Scoreboard was the Utilities (XLU) finishing up X% higher on the session.  Every name in the sector ETF was higher and that vast majority were up…

Fed helps S&P to new highs

Index & Sector performance 6/18/14 The Market: After what amounted to a roughly 1.5% correction from the 6/9/14 highs to the 6/12/14 lows, the S&P 500 has since rallied and as of today’s close made a new intraday and closing all time high.  The majority of the gains were realized after the FOMC statement and rate decision where the Fed left the rate unchanged and lowered monthly bond purchases by $10B. We have taken a cautious stance on the broad market since 6/6/14 due to multiple overbought conditions across multiple time frames.  While the pullback from 6/9 – 6/12/14 helped…

Retail leads low volume rally

Index & Sector performance 6/4/14 The Market: Another very light volume trading day led by the NASDAQ and Russell 2000 while the S&P 500 climbed to a new closing high. There were mixed results across the sectors but a stand out was the Retail (XRT) sector which closed up 0.76%.  Walgreen (WAG) finished up 4.19% to a new closing high on better than expected Q3 sales along with solid same-store-sales up 5.1%.  A more speculative name in retail also moving higher today was RadioShack (RSH) which closed up 8.63%.  For those looking for a speculative trade, RSH is a prime…