December 11, 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…

Back-to-Back big declines

Daily-Wrap

The Market: WOW!  As we noted in Wednesday’s Nightcap, we expected volatility to continue and that there “seems to be a great deal of risk in the market”.  That is why we noted a move below Wednesday’s low of 2070 in the S&P 500 could trigger a sharp decline targeting 2000 in the S&P to start.  That is certainly NOT to say we expected the S&P to get there by Friday! The S&P did not make the close easy going out right at the lows evoking the fear of a strong gap lower Monday.  While a gap down Monday could…

HealthCare gains as market slides

Daily-Wrap

Index & Sector performance 3/4/15 The Market: Ultimately, only a a small sell off in the markets after the S&P 500 rallied off the lows which coincided nicely with the upward sloping 20 day SMA.  Aggressive traders could certainly look to use today’s low to trade against. In Individual sectors, HealthCare (XLV) was the lone gainer finishing up 0.48% while the Industrials (XLI) led to the downside finishing 0.78% lower followed closely by Consumer Staples (XLP) and Financials (XLF) which finished down 0.70% and 0.61% respectively.  The biggest loser so far for 2015 is the Utilities (XLU) which is now…

Holiday trading continued

Daily-Wrap

Index & Sector performance 12/29/14 The Market: Today’s session was a continuation of the previous week’s holiday trading and will likely continue this way for the rest of the week with Thursday being closed for New Year’s Day.  The Russell 2000 (IWM) led while the NASDAQ (QQQ) and Dow (DIA) finished slightly lower. The leading individual sectors were the Utilities (XLU) and Retail (XRT) finishing up 1.15% and 0.98% respectively.  As might be expected with the QQQ finishing lower, Technology (XLK) lagged followed by Consumer Staples (XLP). There were no scheduled Economic Events today but there is some noteworthy data…

Volatility the new norm

Daily-Wrap

Index & Sector performance 10/16/14 The Market: A session like today may look uneventful when scanning the WSC Scoreboard and looking at the end of day changes but it masks the large intraday swings.  An example is the S&P 500 (SPY) had a roughly 50 point range from high to low today (5 points in the SPY) which represents nearly 3% based on today’s opening price.  Traders and investors need to be prepared for an environment with increased volatility which could last for an extended period. The Russell 2000 (IWM) remains the clear leader of late finishing up over 1%. …

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…

Triple witching tomorrrow

Daily-Wrap

Index & Sector performance 12/19/13 The Market: Today trading range was rather tight after yesterday’s explosion with the entire day’s range in the S&P 500 only about 9 points.  Tomorrow will be options expiration and a Triple Witching which can come with some volatility. In economic data today we sub a much worse than expected Unemployment claims number come in at 379K when 366K was expected.  Other key data also underperformed expectations with Existing Home Sales missing expectations (4.9M vs. 5.04M) and Philly Fed Manufacturing Index (7 vs. 10.3).  Tomorrow we get GDP and Monday 12/23 we have Core PCE,…