STTG Market Recap August 19, 2014

Bespoke

Another gap up to start Tuesday as bulls have taken back control of the markets. After the initial surge at the open most of the rest of the day was quite quiet actually. The Commerce Department reported beginning home construction rose 15.7 percent last month from June, while starts for volatile multi-family homes jumped 33 percent.

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STTG Market Recap July 18, 2014

goog

In yesterday’s recap when describing the late day selloff we wrote:

All the typical knee jerk reactions took place – U.S. Treasuries were bid up, oil and gold spiked, as did volatility etc. How much of this is real humans trading and how much is just computers trading with each other we will soon see.

One must keep in mind how computerized the market has become. When a news event hits a lot of the automatic trading goes into overdrive and there is little one can take from it most of the time. It becomes a market on autopilot. Of course if it is followed by more bad news than humans generally will pile on in the days following but as we saw today when all these knee jerk reactions happen so quickly, often we see a quick reversal soon after. Considering the market was very short term oversold per the NYSE McClellan Oscillator – we also had that on the bulls side for at least a quick short term bounce.

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STTG Market Recap July 17, 2014

nymo

Indexes were in a light pullback mode until news hit of the Malaysian Airlines crash, which accelerated selling significantly. At the end of the day the S&P 500 fell 1.18% and the NASDAQ 1.41%. This was the biggest one day drop for the S&P 500 since early April, as most of the pullbacks this spring came in the NASDAQ not the S&P 500 or Dow Jones. All the typical knee jerk reactions took place – U.S. Treasuries were bid up, oil and gold spiked, as did volatility etc. How much of this is real humans trading and how much is just computers trading with each other we will soon see.

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STTG Market Recap April 16, 2014

goog

We missed an interesting session yesterday with our quarterly survey so it is worth mentioning it today. The market was very volatile yesterday but sometimes that can cause a shakeout of sorts when it comes at the end of a correction. Also the NASDAQ hit a key moving average – the 200 day – which if nothing else is usually a place for momentum to reverse in the near term. Was that the end of the correction? Of course we never know until after the fact but creating a new low and then surging off it can sometimes signal a key reversal. As for today, the Federal Reserve continues to try to massage the market’s nerves and Janet Yellen helped lift spirits, pushing the S&P500 up 1.05% and the NASDAQ 1.29%.

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STTG Market Recap January 30, 2014

ua

Stocks continued a very volatile week, as we saw another bounce today off short term oversold levels. The S&P 500 added 1.13% and the NASDAQ 1.77%. Facebook’s large gain, which we discussed yesterday, helped lift many boats in the tech sector – Twitter and LinkedIn both had very large gains. January will be a down month and some believe a bad start to the year bodes ill for the entire year but some analysis today noted: “In 12 of the 21 Januarys since 1960 in which stocks traded lower have seen the subsequent 11 months trade higher including four of the last five instances.”

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STTG Market Recap January 7, 2014

csiq

Yesterday we noted that while there were a decent amount of three day selloffs in 2013, the four day selloff was rare indeed, so it would be interesting to see if the bulls showed up today. Indeed they did, with futures up sharply and the market never looking back after gapping up at the open. The S&P 500 gained 0.61% while tech stocks led the NASDAQ higher, to a gain of 0.96%. Keep in mind tomorrow afternoon we get the release of the Fed minutes from the meeting where they cut quantitative easing. The key economic report of the day was the trade deficit which fell to the smallest level in 4 years as energy exports have created a mini boom in the U.S.

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STTG Market Recap December 20, 2013

cmcsa

Good news was good news Friday, a welcome change. Gross domestic product grew at an annual rate of 4.1 percent in the third quarter, the fastest pace in almost two years, and exceeding the 3.6 percent pace reported earlier this month. Business spending was also stronger than previously estimated. The S&P 500 gained 0.48% and the NASDAQ 1.15%. As we stated in yesterday’s recap, the way the indexes held almost all of Wednesday’s large gains was a positive sign for the bulls, and today we had a clear breakout in the major indexes.

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STTG Market Recap December 10, 2013

sentimentrader

It was another quiet session and sort of the exact opposite of yesterday; today the market gapped down and stayed in a narrow range – whereas yesterday the market gapped up and stayed in a narrow range. The S&P 500 fell 0.32% and the NASDAQ 0.20%. Most of the action was in very specific niches of the market, such as social media. News flow remains quiet. Next Tuesday and Wednesday the Fed has its last meeting of the year and some media types are saying they might taper but one would doubt Bernanke would do this at the end of his reign and just ahead of the holidays.

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