Early dip finds buyers
Index & Sector performance 6/26/14 The Market: Just before the open the major indices started spiking lower and continued through the bells until roughly 10 am ET before finding a bottom. Then as if nothing happened the market spend the rest of the day climbing back toward even on the day with the S&P 500 (SPY) finishing slightly higher while the other major indices on the WSC Scoreboard finished slightly lower. Just like the broad indices, the individual sectors from the WSC Scoreboard were mixed but all hovering near flat on the day. The Financials (XLF) and Consumer Staples (XLP)…
Lots of movement, little results
Index & Sector performance 3/10/14 The Market: Today was a yet another choppy session but for day traders there was a great deal of opportunity. The S&P 500 emini ultimately moved 40 points between support and resistance while the S&P 500 cash index only managed to close down roughly a point for the day. Starting with Sunday evening’s trading the ES contract lost ground over night finding support at the $1868ES pivot and then rallied pre-market to the $1878ES pivot. Playing Pivot Pinball the ES tested the $1868ES support after the open to yet again hold and rally back toward…
Early Gains quickly fade
Index & Sector performance 1/06/14 The Market: Pre-market optimism was met with early selling which took the S&P 500 from $137 on the open own to $1824 by midday. The market bounced along crafting a bottom until roughly 2pm EST when the S&P managed to rally off the lows. While it never made it back to the morning high, the S&P managed to rally back toward even on the day but then sold off in the last hour closing near the lows of the day. In economic news we saw Factory Orders and Services PMI come in as expected while…