STTG Market Recap August 28, 2014

Indexes opened down to begin Thursday’s action but dip buyers came in slowly during the day to minimize losses.  At the end of the day the S&P 500 fell 0.17% and the NASDAQ 0.26%.  All systems remain on go.  Figures from the Commerce Department showed the economy expanded more than previously projected, with gross domestic product rising at a 4.2 percent annualized pace, versus an earlier estimate of 4 percent that followed contraction in the first quarter.

The indexes have finally slowed down enough for the 10 day moving average to catch up to prices.

spx

nasdaq

The NYSE McClellan Oscillator is back in the sweet spot of +10 to +40 range.

nymo

Retail stocks remain in the news as they are reporting this time of year, while most companies report a month earlier.  Abercrombie & Fitch Co (ANF) fell after the retailer’s second-quarter same-store sales fell more than expected.

anf

Williams-Sonoma Inc (WSM.N) tumbled 12 percent to $65.93 a day after reporting its results and giving an outlook.

wsm

After a wild ride to begin its life as a public company GoPro (GPRO) has calmed down some; today it caught traders’ eyes; volume was very solid.

GPRO

Twitter (TWTR) has also begun to move again after a month long rest.

twtr

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