June 28, 2017

The NightCap

Daily-Wrap

The Market: Global concerns sparked an initial move lower in early trading but the markets found support near the $2070 region in the SPX and then managed to finish the session slightly higher.  Energy (XLE) was the clear leader on the WSC Scoreboard followed by Retail (XRT) and Materials (XLB).  Transportation (IYT) lagged hurt by the State Department’s travel ban issued late Monday in response to the recent geopolitical events. After making a low in late August, the XLE rallied until early November and has since held in well consolidating below the November 6th high.  XLE may be setting up…

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…

Greece today, FOMC tomorrow

Daily-Wrap

Index & Sector performance 6/15/15 The Market: An early gap down was attributed to their being no Greece bail-out deal over the weekend but the market found a bottom in early trading and drifted higher the remainder of the session.  If the market can hold today’s low then it can start to build a base but below and it looks like it could target 2050 quickly. Healthcare (XLV) was the only sector on the WSC Scoreboard to finish higher for the session and is still holding its 50 day SMA.  The biggest laggards were Industrials (XLI), Materials (XLB), and Technology…

Stocks recover after early slide

Daily-Wrap

Index & Sector performance 3/26/15 The Market: Today’s session started of much worse than it ended with the futures losing ground in the overnight and early session causing a gap down which continued lower in early trading but manged to recover and stage a midday rally which even saw all 4 broad indices spend time up on the day.  In global news, traders were focused on Saudi Arabia’s bombing of Yemen which helped Crude Oil traded over $51 u more than 3% on the session. We would not be signaling that the coast is clear yet and see risk in…