March 19, 2024

Eurozone fears trigger late day sell-off

Index & Sector performance 2/4/15 The Market: Monday’s reversal in the S&P 500 (SPY) of the 200 day SMA continued Tuesday and was extending in today’s session, even with Oil trading lower, until later in the trading day when the index dropped sharply.  Traders pointed to news our of Europe that the ECB will not allow Banks to use Greek government debt as collateral for loans as the catalyst.  The Dow (DIA) was the only index on the WSC Scoreboard which managed to finish higher but that was greatly due to Disney (DIS) beating EPS and finishing up 7.63% on…

Fed gains quickly given back

Index & Sector performance 10/9/14 The Market: All the gains saw from yesterday’s Fed driven rally were taken back in today’s trading with the Dow (DIA) and S&P 500 (SPY) closing down nearly 2% while the Russell 2000 (IWM) lost 2.7%.  The NASDAQ (QQQ) was helped by Apple (APPL) which managed to post a small gain of 0.22% on the session but the QQQ’s still finsihed 1.62% lower. Some big numbers put up across the sectors led by Energy (XLE) which finished down 3.67% and is now over 4% lower on the year.  The XLE underperforming is not new but…

S&P on 5 day win streak

Index & Sector performance 4/21/14   The Market: The S&P 500 has been on an impressive  5 day winning streak but much like the “V” bottom we say back in February this year, this rally is coming on lower than average volume with today being by far the lowest in the S&P 500 sector ETF “SPY”. We stated in our 4/14 write-up that we would not be surprised to see the market used short term oversold levels and the shortened holiday Op-Ex week to rally.  The question now is as traders get back to the desk in both the U.S….

Market starts on Tryptophan

Index & Sector performance 12/2/13 The Market: Overall not a very active day in this first full trading session after the Thanksgiving holiday and to start December.      Today’s action started with an early dip that was quickly bought and started to rally higher until 12:30 pm EST.  That is where the rally lost steam and started a descent back down toward the earlier lows.  The market reached and went through those lows finally closing at $1800 in the S&P 500.  It is unclear if this slow start to the month is about to start a slide or if it is…