STTG Market Recap September 18, 2014

bidu

Thursday was day 3 of the bounce from extreme oversold levels as investors continued to celebrate the Federal Reserve’s dovish policy statement. The S&P 500 gained 0.49% and the NASDAQ 0.68%. Not too much in the way of economic data other than weekly jobless claims and the Philly Fed index which decelerated in September; however its employment component rose to its highest level since the middle of 2011.

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STTG Market Recap September 2, 2014

tsla

U.S. investors returned from the Labor Day holiday to a generally quiet session. The S&P 500 finished down 0.05% while the NASDAQ rallied 0.39%. The Institute for Supply Management’s index of factory activity, which rose to 59, the highest since March 2011, from July’s 57.1 – was generally a non event. Construction spending was announced as increasing 1.8% in July.

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STTG Market Recap August 4, 2014

bidu

Stocks flip flopped in the morning Monday around unchanged but rallied throughout the afternoon as an extreme short term oversold condition we noted Friday was worked off. It is nothing to get excited about yet if you are a bull – in fact we noted there should be a short term rally coming due to how oversold the indexes had been and if you are a short/intermediate term trader that rally would be a place to lighten up until we see some better signs in the market. The S&P 500 and NASDAQ both gained 0.72%. Participants were happy when hearing of Portugal’s plans to spend 4.9 billion euros, or $6.58 billion, to bail out Banco Espirito Santo. Tomorrow eyes will be on the ISM Non Manufacturing report in the morning.

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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 24, 2014

vix

Today was an interesting day via technical analysis so let’s see if it leads to something negative in the days ahead. We were coasting along to our normal tune – some early selling, dip buyers came rushing in immediately, a slow and steady grind up and then some selling of a moderate nature came in late in the day. The S&P 500 fell 0.64% and the NASDAQ 0.42%. Those are not big losses but we had what is called a bearish “outside day” on the indexes – we’ll speak more on this in a moment. The reason appears to be conflict in the Middle East

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STTG Market Recap June 10, 2014

The action continues to be very strong. Markets are working off overbought conditions by just marking time in a small range rather than any meaningful pullback so one can continue to look for opportunities in ETFs or stocks. The S&P 500 fell fractionally (0.02%) while the NASDAQ added 0.04%. Both indexes were down more substantially early but dip buyers have been very aggressive for 2+ weeks now. Economic data remains light and of the variety that doesn’t move markets much like we saw last week with the ISM data and employment numbers.

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STTG Market Recap April 8, 2014

xlu

The very oversold NASDAQ led stocks up Tuesday but the S&P 500 lagged in a relative sense; this makes sense as the NASDAQ has taken much more damage in the past few weeks. In fact the NASDAQ had its worst 3 day performance since 2011 coming into the day. The S&P 500 gained 0.38% and NASDAQ 0.81%.

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STTG Market Recap March 6, 2014

wwe

Another session of mild digestion after Tuesday’s large rally; stocks started off strong but gave up some steam late in the day. We ended with mixed indexes; the S&P 500 gained 0.17% while the NASDAQ fell 0.13%. Tomorrow pre-market we will get labor data from the U.S. government; it has been two bad months in a row in terms of non farm payroll gains so people will be watching to see if there is some reversion to mean and some revisions upwards to the last 2 months of data due to weather. Since the bar is so low tomorrow any positive number might be enough to give the market a jolt to push it up to the upward extreme level on the NASDAQ chart below.

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