STTG Market Recap August 26, 2014

IBB 042614

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

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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

fdx

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

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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

spx

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

amzn

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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STTG Market Recap April 24, 2014

aapl

Thursday saw some volatility in the morning as indexes popped early on the huge move in Apple (AAPL) but gave up all those gains to go negative in the 10 AM hour, before buyers stepped back in the rest of the session. We said Tuesday the overheated market could use a few days of rest and that is what has happened these past 2 sessions. The S&P 500 gained 0.17% and the NASDAQ 0.52% offsetting much of the losses from yesterday.

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STTG Market Recap April 7, 2014

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Stocks continued recent weakness Monday as the S&P 500 fell 1.08% and the NASDAQ 1.16%. This pushed the S&P 500 into the red for the year. Things looked much brighter a week ago at this time but please note how we highlighted a weird situation where the utility stocks (which are safety stocks) were rallying at the same time as some high growth areas such as industrials and technology.

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