June 18, 2019

The NightCap

The Market: We expected to see a tight trading range until the FOMC statement but instead we saw buyers in advance of the statement as the S&P 500 (SPY) pressed higher.  The the announcement came and there was a sharp sell-off but buyers came right back and all 4 major market indices on the WSC Scoreboard finished above the pre-FOMC announcement highs. As was expected by many, the FOMC left the Fed Fund Rates unchanged but, based on the comments, it appears a rate hike is on the table for December if the data warrants.  We also saw the committee…

Drop to set-up end-of-year rally?

Index & Sector performance 12/30/14 The Market: Without any catalysts, the market drifted slightly lower today but we would be very careful on the short side as this could just be a set-up to finish out the week strong.  In addition, we would be looking at a gap down tomorrow as a potential short term trading opportunity on the long side. While all sectors finished lower, Utilities (XLU) led the way closing down over 2%. Tomorrow is the biggest data day of the week with Unemployment Claims the headline.   Analyst Comments:

Merger Monday doesn’t help market

Index & Sector performance 11/17/14 The Market: Despite a very active M&A session, it was yet another very tight trading range in the S&P 500 while the NASDAQ (QQQ) lagged and the Russell 2000 (IWM) led to the downside. In deals we saw Allergan (AGN) agree to be acquired by Actavis (ACT) for a combination of cash and ACT stock which totaled $219 per share.  Valeant Pharmaceuticals (VRX) who had also been trying to buy AGN stepped aside not feeling comfortable they could justify the valuation to shareholders.  Two more big names in M&A news as Halliburton (HAL) announced it…