Early dip met with strong buying
Index & Sector performance 2/13/14 The Market: The markets began to dip overnight and into early morning trading. Weaker than expected economic data didn’t help but just as the market officially opened the bottom was put in and the S&P 500 spent the remainder of the day rallying only taking a short midday break before continuing on to made the highs of the day near the close. The following noteworthy companies are scheduled to report earnings before tomorrow’s open: ALE, BAM, COTY, CPB, DTE, H, IPG, IPGP, ITT, JMP, LECO, LPNT, MINI, POR, RRGB, SJM, SNI, TRW, VFC, VTR,…
Low volume day follows the trend
Index & Sector performance 11/22/13 The Market: The market made solid gains trending higher all day to close over $1800 in the S&P 500. If there was anything concerning about today’s rally, it was the volume which seemed very light but seeing a market move in the direction of the trend on low volume days is not uncommon. There was not much on the Economic data front today besides some fed speak but Thursday the 21st was big. Unemployment Claims came in better than expected posting 10K below (323K vs 333K) expectations while the previous week was adjusted slightly higher…
Daily Wrap
The markets started today with another gap down and twice tried to rally and failed. he first rally started roughly around noon and continued until the Fed minutes were announced which then sent the S&P tumbling quickly to new lows for the day but that dip was bought and in a volatile hour was not only higher but positive on the day. As soon as the gains were had they were lost and the final hour of trading again sent shares lower closing above but near the lows of the day. In economic date we had existing home sales come…