QQQs lose 2% – now sit on 50 day SMA
Index & Sector performance 9/25/14 The Market: Strong down session across the board which saw the NASDAQ (QQQ) lead the way lower finishing down over 2%. QQQ was hurt by Apple (AAPL) which is reportedly facing consumer issue regarding its new iPhone6 and iOS but some media outlets also pointed to concerns over rates and Russia as causes for trader pessimism. The Dow (DIA) and QQQ are now sitting on their 50 day SMA’s while the S&P 500 (SPY) lost its 50 as of today. With one day left in the trading week it will be interesting to see how…
Utilities big loser ahead of Jobs data
Index & Sector performance 7/2/14 The Market: The WSC Scoreboard was relatively flat to mixed with the Dow (DIA), S&P 500 (SPY), and NASDAQ (QQQ) closing slightly higher while the Russell 2000 (IWM) finished 0.35% lower. In individual sectors, the Utilities (XLU) stood out as the biggest loser finishing 1.99% lower on the day and appears vulnerable to even more downside action after being the leader so far in 2014. Every stock in the XLU finished down on the day with some finishing down over 3% including Exelon (EXC), FirstEnergy (FE), and Entergy (ETR) down 3.11%, 3.50%, and 3.25% respectively. …
Strong start with new highs
Index & Sector performance 5/12/14 The Market: A strong start to the week as a broad based rally in the market was led by the Russell 2000 (IWM) up 2.27% and the NASDAQ 100 (QQQ) up 1.65% while the Dow and S&P reached new closing highs. The two stand out sectors were Retail (XRT) and the Transportation (IYT) while the Utilities (XLU) lagged closing down 0.92% but remain the largest gainer YTD. We have much more economic data this week and tomorrow all eyes will be on Retail Sales which is released before the open. Headline sales are expected up…