Dollar giveth and taketh away
Index & Sector performance 3/19/15 The Market: It was noted in last night’s write-up that where the S&P 500 (SPY) decided to stop yesterday gave us pause and left the door open for a pullback. We still see risk in the S&P in the short-term but a move back over yesterday’s high would force us to revisit that view. Oil reversed much of yesterday’s gains but has managed to remain above yesterday’s lows. We noted in last night’s commentary that the risk/reward in the USO looked favorable with a stop below $15.61 and we would continue to use that as…
S&P nearing last week’s low
Index & Sector performance 10/7/14 The Market: After being rejected by the 50 day SMA yesterday, the S&P 500 (SPY), along with the other major indices on the WSC Scoreboard, followed up today with a strong down session. So far the SPY has managed to stay above the 10/2/14 spike low but we are very close. Utilities (XLU) continue to outperform on this recent down turn and after spending some of today in positive territory managed to only finish 0.14% lower. Next best was the Consumer Staples down 0.59%. Leading to the downside today was yesterday’s top loser, Transportation (IYT), …