August 20, 2017

The NightCap

Daily-Wrap

The Market: Not a great start to 2016 for the Bulls but could have been much worse if not for a late end-of-day rally.   So far in after-hours trading the market has continued higher but we will need to see if these gains hold over-night as well as into early trading tomorrow. No Sector was spared in today’s trading but the XLU was the clear relative outperformer finishing down only 0.21% followed by the worst performer for 2015, XLE, finishing down 0.41%. Tomorrow is a light Economic Data session with only Vehicle Sales being reported but later in the week…

Oil gets crushes while market dips

Daily-Wrap

The Market: A small down day which could have looked worse if not for a late day rally off the lows.  Interesting to see the leaders to the downside were the Dow (DIA) and Russell 2000 (IWM).  We were looking for the market to close just off the lows and then gap down tomorrow for a short-term long opportunity but today’s end of day rally has changed that set-up. Overall we remain cautious on the broad market and believe the choppy trading of late will continue. Energy (XLE) led to the downside, again, as crude oil continues to slide reaching…

Market churns while XLU heads lower

Daily-Wrap

Index & Sector performance 2/25/15 The Market: Another day of churn as the market continues to grind with an upward bias.  As we posted over at StockTwits we are starting to see a lot of negative divergence setting up on the MACD.  Divergence is not a trigger itself but is showing signs that each move higher comes with less momentum and excitement. Utilities (XLU) was the leader to the downside and a name we recently posted about in the Charts section.   After seeing a lot of people bullish on the name, we laid the road map we felt the Bulls…

Quiet start to the month

Daily-Wrap

Index & Sector performance 11/3/14 The Market: The market started the day slightly higher building on last week’s extremely strong session but the market ran out of steam in the short term and the S&P 500 started pulling back in afternoon trading finishing flat on the session.  All in all it was a low volume quiet session but the Bulls can point to the fact that they didn’t give ground after reaching new highs. We do not expect the remainder of the month to be as quiet as today and would plan for swings in both directions much like October…

China growth concerns weigh on market

Daily-Wrap

Index & Sector performance 9/22/14 The Market: The markets started the week off lower with many pointing to weak economic data out of China as well as comments from the Chinese finance minister stating there will be no major policy adjustments as the cause.  Leading the way lower was the Russell 2000 (IWM) which remains the clear underperfomer for the year with the Dow (DIA) not too far behind but at least positive YTD. Multiple sectors closed the day down over 1% with Retail (XRT) leading the way finishing the session 1.59% lower.  The XRT is now again over 1%…

Russell clear winner in mixed start to week

Daily-Wrap

Index & Sector performance 6/9/14 The Market: All 4 major indices on the WSC Scoreboard started the week moving higher picking up where they left off last week including the small cap Russell 2000 which continued its recent outperformance.  The quick start soon came to an end when each index made a top around noon ET which was never again revisited in today’s trading.  While the Russell 2000 managed to finish respectfully higher for the day, the rest of the indices were flat to slightly down. We noted in Friday’s  report last week that the S&P 500 closed outside of…

The Market’s all a TWTR

Daily-Wrap

Index & Sector performance 11/4/13 The Market: A gap higher in the S&P was quickly sold down to 11:30 am EST where the market found support and then rallied to the close making new highs for the day in the final few minutes. In economic data Factory orders came in lighter than expected and while there was some Fed speak, nothing too groundbreaking.  Tomorrow we see ISM and Economic Optimism.  Looming Thursday is the Unemployment Claims data which has a very low estimate and looks like a softball for the markets to beat.  A big miss with already low expectations…

Daily Wrap

Daily-Wrap

DJIA -138.85 (-0.94%) to 14,700.95; S&P 500 -14.87 (-0.93%) to 1,582.70; NASDAQ -14.09 (-0.49%) to 2,873.35 Mixed economic data including a bad ADP and construction spending number as well as poor economic data out of China helped send the major indices lower on the open.  After midday, the Fed helped spark a small rally after reiterating their stance to be accommodative and even mentioned they will increase or decrease the pace of purchases in the future as necessary but this only provided a brief recovers and the market proceeded to sell off into the close. In economic news today the calendar was pretty full and started…