Weak ADP data helps market gap
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…
Volatility the new norm
Index & Sector performance 10/16/14 The Market: A session like today may look uneventful when scanning the WSC Scoreboard and looking at the end of day changes but it masks the large intraday swings. An example is the S&P 500 (SPY) had a roughly 50 point range from high to low today (5 points in the SPY) which represents nearly 3% based on today’s opening price. Traders and investors need to be prepared for an environment with increased volatility which could last for an extended period. The Russell 2000 (IWM) remains the clear leader of late finishing up over 1%. …
Tech & Small Cap lead, S&P new highs
Index & Sector performance 5/27/14 The Market: After a lull in Economic releases last week and a Holiday Monday, today started with a slew of Economic data which posted better than expected results for Durable Goods orders, Home Price Index, and Flash Services PMI. The S&P which was already trading slightly higher preceded to rally into the early morning before seeing a midday dip followed by an end of day rally that took the S&P500 futures back to and slightly above the earlier highs. Tomorrow we get a break from Economic news but Thursday will be another big day with…