The NightCap
The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting. As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…
Low volume give back after 3 solid days
Index & Sector performance 10/22/14 The Market: Today marked a give back after 3 solid days of gains. The leader to the downside was the index that we have been watching closely for the past few weeks, the Russell 2000 (IWM). The IWM’s underperformance throughout the year was a warning just as its outperformance near the recent bottom. The IWM has put in work to find a bottom and start to move off the lows of last week but it is not our of the woods yet in our opinion. First step is remaining above $107 and then the lows…
S&P 500 makes new closing highs
Index & Sector performance 8/20/14 The Market: A respectable session for the Dow (DIA) and S&P 500 (SPY) as the SPY finished at a new closing high and the DIA is not all that far off. The NASDAQ (QQQ) managed to finish slightly up on the session and while not as strong as the DIA or SPY, the QQQ has been the clear leader on the year. The Russell 2000 (IWM) continues to lag and was unable to finish the session higher like the other broad indices however the index did manage to rally well off the earlier lows. In…
Daily Wrap
DJIA +67.12 (+0.49%) to 13,779.33; S&P 500 +2.25 (+0.15%) to 1,494.81; NASDAQ +10.49 (+0.33%) to 3,153.67 All in all today was a nothing as we started around flat and stayed flat the majority of the day until we (again) rallied into the close after lunch. After the close we had Apple Computers (AAPL) report earnings which slightly beat EPS estimates but slightly missed on revenues. The futures dropped at the same time as AAPL reported and started to decline and now stand down about 7 points as I write. Apple (AAPL) clearly is driving discussion after the close and it…