OTC: May 8, 2016 S&P 500/ SPY: The unemployment number Friday came in weaker than traders thought causing a very soft opening making a new low for the move but soon morphed into the thinking that a weaker economy pushes the rate hike off to the future and that is ultimately bullish for stocks.Lower […]
OTC: May 5, 2016 S&P 500/ SPY: The market still in sell mode tested yesterday’s lows and now waits for the employment report in the morning for the next catalyst. Oil USO {see chart below} was strong giving that sector strength vs Apple AAPL for the tech’s heading back towards its old low of 92.40 […]
OTC: May 4, 2016 S&P 500/ SPY: This mornings ADP employment number came in weak showing less jobs created causing some concern about Friday’s official report. This added to the overall market weakness as selling was the rule of the day with not much in the way of a comeback.Earnings season winding down should […]
OTC: May 3, 2016 S&P 500/ SPY: The new month money coming in yesterday left us gapping lower today and back to the down trend as the stock sectors that have been performing well all reversed lower. The oil stocks woke up to a third down day for crude, gold stocks sold off with […]
OTC: May 2, 2016 S&P 500/ SPY: Last weeks selling already feels like a long time ago as the market started higher and kept rallying the rest of the day. This could be some new month money coming in but also that the other markets were calmer and earnings today were not a factor. […]
Options Supplement: May 1, 2016 The final trading day of April was a busy one as stocks closed out the month under some pressure for a second day in a row. The S&P 500 finished down about .5%, weighed down by heavy selling in Europe and Japan, but was down over 1% in afternoon trading […]
OTC: May 1, 2016 S&P 500/ SPY: Is this the end of the rally that was widely expected to at least test the old historic highs? The goal was in sight until earnings from the big market movers took a hit and was just too much to overcome. Apple AAPL was the latest and biggest and […]
Options Supplement: September 21, 2016 By Daniel Darrow The Fed held rates steady and stocks rocketed higher today. The S&P 500 closed at the high of the day, up 1.09%, while the Nasdaq put in a fresh 52 week high, ending the session up 1.03%. Averages were looking at solid gains in the […]
OTC: September 21, 2016 By Steve Smith SPX/SPY: The next waiting period for the Fed to raise rates started again at 2:00:01 PM and because they refrained today once again the market felt the relief of not having to deal with what will happen when they do and took off to the upside. There was […]
Following Through September 22, 2016 Videos/Charts (click to view) Morning Call: September 22, 2016 Companion Charts: September 22, 2016 Daily Recap: September 21, 2016 By Scott J. Redler We have mostly green arrows around the world as overseas indices follow the US’ lead. Europe is broadly higher with the DAX +1.7%, the CAC +1.4%, and […]