STTG Market Recap October 2, 2014

GPRO

Indexes opened flat Thursday but sold off quite sharply in the morning before deeply oversold conditions led to a decent bounce to finish back near the unchanged line. The S&P 500 was fractionally higher while the NASDAQ gained 0.18%. We will have the monthly employment data premarket tomorrow so that should sway tomorrow’s mood. Some of the morning selling could be attributed to Europe

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STTG Market Recap September 25, 2014

vix

Thursday was a quite rotten day in the market as we saw broad selling and the market’s big cap leader in Apple (AAPL) get taken to the woodshed. Indexes opened negative and they sold off through the entire morning and then flat lined the rest of the session. The S&P 500 fell 1.62% and the NASDAQ 1.94%. Helping to unnerve investors was a report that Russian lawmakers drafted legislation that would allow the government to seize foreign assets. In economic news, demand for all durable goods slumped a record 18.2%.

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STTG Market Recap September 23, 2014

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After opening mixed and holding in a tight range in the morning, indexes sold off in the afternoon to close at session lows. The S&P 500 fell 0.58% and the NASDAQ 0.42%. Most of the negative energy right now is coming from overseas where data out of Europe and China was not that promising.

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STTG Market Recap September 22, 2014

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Indexes sold off relatively strongly Monday; the opened down at the open as some comments out of China indicated no new easing would becoming from the government and never really mounted any serious rally intraday. If you recall in one of our recaps last week we had noted some thought the Chinese would be doing some new stimulus. The S&P 500 fell 0.80% and the NASDAQ 1.14%. In economic news existing home sales fell 1.8 percent in August, far from the growth of 1 percent that had been expected.

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STTG Market Recap September 10, 2014

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After a drop this morning pushed the S&P 500 to some key support we saw dip buyers jump in but at a relatively modest pace; the NASDAQ was stronger as the very severe Apple influence weighed on it. Economic news continues to be very light this week after last week’s onslaught. The S&P 500 added 0.36% and the NASDAQ 0.75%.

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STTG Market Recap September 9, 2014

aapl

Indexes fell Tuesday as some underlying weakness we have begun to notice the past 3-4 sessions has finally hit a broader array of stocks. Treasury yields on the 10 year bond spiked back to the 2.50% range for the first time in a while; they have stayed strangely very low despite a lot of positive economic data. Some believe the Federal Reserve may raise interest rates more quickly than they have currently indicated but nothing from Janet Yellen has indicated this. Apple’s product announcements – widely followed – were not enough to move the stock. In the end the S&P 500 fell 0.65% and the NASDAQ 0.87%.

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STTG Market Recap September 3, 2014

GPRO

Another quiet session for the market as Wednesday was essentially the exact opposite of Tuesday with the NASDAQ leading the indexes down rather than up. The S&P 500 fell 0.08% and the NASDAQ 0.56% as Apple took a significant hit. As a major weight in the NASDAQ index, when Apple moves strongly one way or the other it affects the entire index. In economic news July factory orders rose in-line with expectations, while the Fed’s Beige Book found modest to moderate economic expansion. The European Central Bank is scheduled to hold its monthly policy meeting on Thursday and may announce the launch of a bond-buying program which could drive U.S. futures premarket.

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STTG Market Recap August 27, 2014

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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.

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