STTG Market Recap Feb 24, 2015


We remain in a calm and collected market. The S&P 500 gained 0.28% and the NASDAQ 0.14%. Fed Chair Janet Yellen had testimony in front of Congress and nothing was a surprise – if anything the remarks were quite dovish.

Yellen’s prepared remarks said no rate hike is expected for the next few FOMC meetings. She later said in a question-and-answer session that the Fed would not raise rates before it found confidence in the economic recovery, overcoming current concerns about the labor market, below-objective inflation and the decline in energy prices. She repeated that the Fed’s pledge to be “patient” on beginning to raise the benchmark interest rate means an increase is unlikely for “at least the next couple” of meetings. The central bank adopted the guidance in December and repeated it in January.

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STTG Market Recap Jan 14, 2015


Indexes continue to struggle and it remains a period to be cautious. Unlike the prior 2 sessions when we saw serious spikes in the premarket, today the market was down severely premarket and that weakness continued all day until mid afternoon when some buyers showed up to relieve some of the pressure. Still the S&P 500 fell 0.58% and the NASDAQ 0.48%. In economic news, U.S. retail sales dropped 0.9% in December, the biggest slide since January 2014, following a 0.4% gain in November that was smaller than previously estimated, according to the Commerce Department. This was a surprise considering people expected spending to boom with lower gas prices.

Fun fact: The S&P 500 has moved an average of 0.95% per day so far in 2015. That’s more than double the average daily price change of 0.53% for 2014, which was the calmest year in U.S. stocks since 2006.

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STTG Market Recap Jan 13, 2015


Watch tonight’s video market recap on my channel, Mark333.

Another day of selling an up open hit the market Tuesday. Yesterday we had a premarket push and that was sold off within minutes at the open. Today we had an even larger premarket rally and a big push up to begin the day, but sellers came in again mid day and by mid afternoon indexes were negative. In the end the S&P 500 fell 0.26% and the NASDAQ 0.07%. Worries about the commodity market and possible German interference with “more free money!” from the European Central Bank seemed to be today’s culprits.

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STTG Market Recap December 5, 2014


Indexes rallied on good economic data but some late day selling took stocks well off their highs. The S&P 500 gained 0.17% and the NASDAQ 0.24%. Remember, we are in a perverse kind of market where people want good news but not “too good of news” to make the Federal Reserve remove their massive monetary support.

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STTG Market Recap November 4, 2014


Indexes continue to work off extreme overbought conditions this week with the S&P 500 down 0.28% and the NASDAQ 0.33%. Sideways consolidation like this is perfectly healthy and necessary. The dramatic drop in oil continues to capture the markets attention. The European Commission reduced its estimates for euro-zone growth, projecting the 18-nation region’s gross domestic product would climb by 0.8 percent in 2014 and 1.1 percent next year, a decline from estimates of 1.2 and 1.7 percent.

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STTG Market Recap October 14, 2014


We saw a bounce today in the indexes but considering how oversold the market is, it was not a very impressive one. The S&P 500 gained 0.16% and the NASDAQ doubled that at 0.32%. Not much in the way of economic news as the market transitions to focus more on earnings; that said September retail sales will be reported tomorrow and that is widely followed. Across the pond the German government cut its economic forecast for this year and for 2015.

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STTG Market Recap October 8, 2014


Hello readers; if you have not had seen it yet please take a minute and take our 3rd quarter reader survey – it is only a few short questions and helps us gauge how we are doing. Thank you.

The Federal Reserve continues to capture the heart and minds of Wall Street traders. After a ho hum morning, dovish Federal Reserve minutes were released mid afternoon and the market shot off like a cannon to the upside. The S&P 500 gained 1.75% and the NASDAQ 1.90%. This was the best day for both indexes since October 2013. Perversely bad news remains good news in the market – the dovish comments were due to the Fed’s fears of potential weakness in the economy, hence them staying in “emergency” stance here 5 years into the recovery.

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STTG Market Recap July 15, 2014


Indexes opened up to start Tuesday but sold off modestly as the day progressed as someone somewhere tried to find something negative in the Yellen comments to Congress. So they found a blurb where she called valuations stretched for smaller social media and biotechnology stocks and those areas sold off. Something like this is usually forgotten about in 24 hours. For the day the S&P 500 fell 0.19% and the NASDAQ 0.54%.

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