A quiet day of rest and consolidation, consistent with a serious rally. The S&P 500 finished flat while the NASDAQ fell 0.02%. News flow was very light as we come to the end of summer and many are enjoying vacation; volume out there reflects this.
We’ll survey some longer term charts for the indexes as we do each Wednesday. They remain in all systems go posture other than being extended from any moving average.
Tiffany & Co (TIF) spiked after the company hiked its 2014 outlook; however it actually had a pretty rough day, giving back nearly 5% from its intraday high.
Another retailer, Express (EXPR) rose after posting quarterly revenue that topped expectations and raising their full-year profit views.
Apple (AAPL) gained after Bloomberg News cited people familiar with the matter in reporting the company’s suppliers readying to make its biggest-yet iPad.
One overseas company really making a move of late is Tata Motors (TTM) out of India.
Just picking a random company who has been very impressive of late – from the healthcare sector we have Community Health (CYH) – a hospital company.