December 12, 2017

The Nightcap

Daily-Wrap

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…

China & Buffett support stong session

Daily-Wrap

The Market: A strong overnight session in China which was triggered by changes to the latest monetary policy report and also on reports that China will overhaul state-owned enterprises helped get the market started and then Warren Buffett and Berkshire Hathaway (BRK.A, BRK.B) helped fan the fire by first purchasing Precision Cast Part (PCP) for $235/share in cash and then during an interview noted that he likes IBM (IBM) and answered a question about if he is buying that people should check the SEC filings in the coming days.  The Dow (DIA) led today’s rally. Energy (XLE) was the biggest…

Weak ADP data helps market gap

Daily-Wrap

The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day…

SPY is sitting on the 50 day SMA

Daily-Wrap

Index & Sector performance 9/23/14 The Market: U.S. led airstrikes in Syria and weaker than expected European manufacturing data helped continued weakness in the broad markets with the Russell 2000 (IWM) again leading the way to the downside.  After peaking back positive YTD in late August and into early this month, the IWM is now down 3.46%.  The NASDAQ (QQQ) was the clear winner, on a relative basis, and was helped by a strong showing in Apple (AAPL) which closed up 1.56%.  The S&P 500 (SPY) is now near, essentially at, its 50 day SMA and we are very interested…

Today the quiet before the storm?

Daily-Wrap

Index & Sector performance 10/31/13 The Market: Second straight down day for the S&P 500.  The day was slightly more active than the closing prices might suggest as a very early up open was quickly sold down to the 1756 levels where the market bottomed around 10:30am EST and then rallied to 1768 by 2:30 pm EST.  What took almost all day to gain was then lost in that last hour of trading with the S&P closing back near the earlier lows for the day at 1756.  What needs to be seen is if this relatively quiet day is the…