March 19, 2024

Sellers appear on slow news day

The Market: An initial gap down in the morning found buyers but only to roughly flat on the session when the seller stepped back in and controlled the remainder of the day with all 4 of the WSC Scoreboard main indices finishing lower led by the Dow (DIA) while closed down nearly 1%. All of the WSC Scoreboard sectors were lower on the session with the largest losses realized in Transportation (IYT), Matierials (XLB) and Heath Care (XLV). Not many comments tonight but we would be cautious here.  The market looks to be oversold in the short term and due…

New Ebola scare helps market off highs

Index & Sector performance 10/23/14 The Market: The market was cruising along today until roughly 2pm ET when the market turned and then started quickly losing ground.  Traders pointed to news that a doctor who had treated Ebola patients was rushed to the hospital in New York City.  The sell off was not enough to give back all the days gains but we closed well off the intraday highs. Many sectors from the WSC Scoreboard participated in the rally with the biggest gainer the Industrials (XLI) finishing up over 2% helped greatly by Union Pacific Corporation (UNP) and 3M (MMM)…

Daily Wrap

DJIA -9.53 (-0.06%) to 15,238.59;S&P 500 -0.57 (-0.03%) to 1,642.81;NASDAQ -0.38 (-0.01%) to 2,990.49 Coming off last week’s action the market chose to use today to consolidate.  It started with a strong gap higher that immediately sold off and then again rallied near the morning’s highs and this was all before noon EST.  After roughly 12:30 pm EST, the market drifted lower and closed off but closer to the lows of the day than the highs.  After such a stong move, it wouldn’t be surprising to see more consolidation for the days to come. News of the day included Apple Computers (AAPL) which kicked off the…

Analyst Comments

If you see a symbol that interests you in this list then make sure to check out the Upgrades/Downgrades section for the complete list and details! Upgrades: BCS, EDRVF, KCG, EXC, FB, YHOO, MOS, ETN, CPL, ANAD, LMT, BRCM, KKPNY, DSW, UBSH, JRCC Downgrades: AKZOY, BLL, CCK, CHS, ARO, MCD, WAIR, HNZ