April 24, 2024

Back-to-Back big declines

The Market: WOW!  As we noted in Wednesday’s Nightcap, we expected volatility to continue and that there “seems to be a great deal of risk in the market”.  That is why we noted a move below Wednesday’s low of 2070 in the S&P 500 could trigger a sharp decline targeting 2000 in the S&P to start.  That is certainly NOT to say we expected the S&P to get there by Friday! The S&P did not make the close easy going out right at the lows evoking the fear of a strong gap lower Monday.  While a gap down Monday could…

Tight trading ends with pop higher

Index & Sector performance 11/18/14 The Market: After multiple sessions trading in a tight range the broad indices broke-out to new highs.  It is worth noting that volume was again light but that has been the case throughout much of this recent rally after the mid October bottom.  In the after hours session the futures started to give back some of today’s gains so we will be looking to see if today was a false breakout which gives way to a pullback or if the indices can hold. In individual sectors, HealthCare (XLV) led finishing 1.61% higher helped by strong…

Off the 150 day and up

Index & Sector performance 2/5/14 The Market:   In the News:     The following noteworthy companies are scheduled to report earnings before tomorrow’s open: PM, AET, EXC, CMI, NBL, K, PPL, PRGO, ADS, SIAL, WEC, TW, AAP, VMC, DO, TDC, KKR, SNA, CSL, NUS, ODFL, AOL, PTEN, USG, NYT, FSC, HCLP, NILE   Analyst Comments:       The Game Plan:

Daily Wrap

DJIA +89.16 (+0.61%) to 14,662.01; S&P 500 +8.08 (+0.52%) to 1,570.25; NASDAQ +15.69 (+0.48%) to 3,254.86 Yesterday seemed almost too easy with the markets starting higher and then selling off on what I noted was light volume but decisively negative.  The new quarter had started and brought along with it a sell off.  There was that pesky end of day rally though.  That one that happened toward the very end of the day and left open the idea that the market could build off that push and that is what then happened today.  The markets gaped higher and never dipped back into negative territory. …