STTG Market Recap November 14, 2014


Friday was a choppy session with little momentum as indexes have now worked off their extreme overbought conditions. The S&P 500 added 0.02% and the NASDAQ 0.18%. U.S. retail sales rose 0.5% last month when stripping out volatile elements like gasoline, autos, building materials and food services, according to the Commerce Department data released on Friday. That was the biggest increase since August and just above analyst expectations of a 0.4% gain. Retail sales account for about one-third of consumer spending, and overall they rose 0.3%, held back by a 1.5% drop in receipts at gasoline retailers.

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STTG Market Recap October 23, 2014


ndexes gapped up at the open and stayed strong all day as corporate earnings reports generally pleased investors; some more Ebola news late in the day took indexes a bit off their highs. The S&P 500 jumped 1.23% and the NASDAQ 1.60%. There was decent economic news out of Europe which also helped the mood.

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STTG Market Recap August 26, 2014

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A day after crossing over 2000 but then falling back the S&P 500 finished above that big round number. The S&P 500 gained 0.11% and the NASDAQ 0.29%. The day’s economic reports came in well above expectations; orders for durable goods rose 22.6 percent last month versus a 7.5 percent estimate. The bookings for longer-lasting goods came on increased demand for commercial aircraft. A measure of consumer confidence hit 92.4 in August, exceeding estimates of 89.

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STTG Market Recap July 24, 2014


Thursday was a quiet session with indexes flipping around the unchanged line. The S&P 500 gained 0.05% while the NASDAQ dropped 0.04%. It was another day of very high profile companies reporting. Economic news in the housing market was not very good – new home sales declined 8.1 percent in June, the biggest drop in almost a year.

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STTG Market Recap June 18, 2014


Indexes were in the red most of the day but rallied sharply on the Federal Reserve announcement mid afternoon. It is not clear why because the Fed did exactly as everyone expected but that is the hallmark of a bull market. We stated the past few days that the market had worked off its oversold conditions and was ready to go – so today was go. The S&P 500 added 0.77% while the NASDAQ rallied 0.59%.

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STTG Market Recap June 5, 2014


Well we’ve had a pretty good run here of late predicting the action. A few weeks ago we noted how the “growth/momentum” stocks had reversed so it was time to stop being super cautious. Then late last week we said the market needed a rest and some days of consolidation would be good. That happened in the first part of this week but as we said yesterday this consolidation period is a time to build positions up if you have a bullish view. Also we said the NASDAQ had more headroom than the S&P 500. So today we had the NASDAQ up 1.05% and S&P 500 up 0.65%. Usually it is not quite so “easy” but pretty textbook reversal at this point.

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STTG Market Recap April 28, 2014


Indexes were volatile Monday, gapping up at the open, then selling off through the lunch our – taking another leg down down mid afternoon which pushed all the indexes into the red, before a late day surge led to a mixed result. We continue to see a rotation into safety sectors such as consumer staples and utilities and away from more risk oriented parts of the market – the S&P 500 gained 0.32% while the NASDAQ fell 0.03%. Geopolitical risk remains due to the Ukraine situation. We have a Fed meeting in the next 2 days with expectations of another $10B/mo reduction in QE, and later this week we have the first pass of 1st quarter GDP, a key ISM report, and the monthly employment data.

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STTG Market Recap April 25, 2014


Stocks sold off Friday as some geopolitical friction returned to the headlines. The United States and four European allies agreed that Russia had not lived up to the terms of the Ukraine peace accord, with the White House vowing a coordinated response to “impose costs” on Russia. So coming into this week we had a short term sharp rally from very oversold conditions – and that continued early this week – at which point we said the market could use a rest short term. We had 2 days of solid quiet action up and down, but today was a bit more harsh, especially in the NASDAQ. Until we get a more calm market it is difficult to call for a bottom. The S&P 500 fell 0.81% and the NASDAQ 1.75%.

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