November 18, 2018

Will the recent Volatility continue?

The Market: No comments tonight except to say that, after a volatile beginning, the market quieted down and consolidated to finish the week but we do not think the violent swings are over and expect more volatility next week. Hope you all have a wonderful weekend!       Reporting EPS 8/17/15 After the Close:   Reporting EPS 8/17/15 Pre-Market: The only name we are currently tracking is The Estee Lauder Companies (EL) with an estimate of $0.34.   Analyst Comments:

Early dip is bought, finishes flat

The Market: Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led. The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs. In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by…

Shortened week but already big moves

Index & Sector performance 3/30/15 The Market: Very strong rally across the board today with the Dow (DIA) leading the charge followed by the Russell 2000 (IWM) and then the S&P (SPY).  In the very short-term these indices are overbought and likely due for a consolidation.  The nature of the pullback will be telling if more upside is forthcoming or if we are heading back down toward the lows. Energy (XLE) led the Sectors today closing up over 2% followed by Financial (XLF), Materials (XLB), and Industrials (XLI) all finishing up over 1.5%.  It was green across the board. Please…

S&P snaps 2 day losing streak

Index & Sector performance 2/10/15 The Market: The S&P 500 snapped a 2 day losing streak with a solid rally closing up over 1% on the session while the NASDAQ led the charge finishing up over 1.50% helped by Apple (AAPL) which closed at a fresh all time highs.  The Russell 2000 (IWM) was the laggard but still managed to finish up 0.67%. All the sectors on the WSC Scoreboard were higher with the exception of Energy (XLE) which was taking its cue from Crude’s slide today after running into the 50 day SMA.  Utilities (XLU) was the biggest gainer…

Off the 200 Day and up

Index & Sector performance 2/2/15 The Market: The S&P 500 (SPY) started the session lower but found support just slightly above the 200 day SMA which has not been visited since October 2014.  After an initial pop and then pullback the index rallied the remainder of the session to finish over 30 points off the lows.  So far in the after hours the index is holding the gains and consolidating.  Today’s action should be very promising for long traders and you know your stops — below today’s lows. The leading sector on the WSC Scoreboard was Energy (XLE) finishing up…

This down day came with volume

Index & Sector performance 7/8/14 The Market: *** Administrative Note: Due to traveling, this will be the last update for the week. *** A second straight day lower for all 4 broad market indices on the WSC Scoreboard but setting today apart from other recent down days was a noticeable pick-up in volume.  Leading the charge to the downside was the NASDAQ (QQQ) and Russell 2000 (IWM) both finishing 1.2% lower. We remain cautious on the overall broad market and as noted in last night’s report are watching the IWM closely.  Its failure to lead and make new highs with…

Fed helps S&P to new highs

Index & Sector performance 6/18/14 The Market: After what amounted to a roughly 1.5% correction from the 6/9/14 highs to the 6/12/14 lows, the S&P 500 has since rallied and as of today’s close made a new intraday and closing all time high.  The majority of the gains were realized after the FOMC statement and rate decision where the Fed left the rate unchanged and lowered monthly bond purchases by $10B. We have taken a cautious stance on the broad market since 6/6/14 due to multiple overbought conditions across multiple time frames.  While the pullback from 6/9 – 6/12/14 helped…

Fed day snaps S&P 4 day win streak

Index & Sector performance 10/30/13 The Market: A small gap up on the open was quickly sold and the market pulled back but losses were relatively contained until the Fed announcement which sent the S&P spiking lower.  Buyers did then step in and used the last hour of trading to help close the index off the lows but not enough to keep from snapping the S&P 500’s 4 day win streak. In economic news, ADP Non-Farm came in lower than expected printing a 130K with 151K the expectation.  Core CPI was also light coming in at 0.1% when 0.2% was…

No Summers….Yee Haw!

The Market: After Larry Summers took himself off the Fed Chair block, the markets baked in expectations of Janet Yellen who many feel will be more accommodating than Summer may have been.  The possibility of more stimulus from the fed or at least the likelihood that stimulus would persist was enough to send S&P 500 futures gaping higher Sunday evening and showing strength early in the trading session but the open marked the highs and the S&P 500 lost ground the remainder of the day closing 7 points off the highs. Economic data was light today but also ignored due…