Well that was not a pleasant way to end 2014. After 2 weeks of sleepy holiday trading, bulls got punched in the teeth a bit Wednesday as the S&P 500 fell 1.03% and the NASDAQ 0.87%. It was a strange session as the indexes opened up for the day and then went flat line all morning in another sleepy holiday session. Then they took a small dip after noon and stayed there until the last 2 hours when some bouts of selling hit. The Chicago Purchasing Managers’ Index for December came out at 58.3, below expectations. Pending home sales rose just 0.8 percent in November from a downwardly revised October reading.Continue reading
Archives for 2014
Watch tonight’s video market recap on my Ticker.tv channel, Mark333.
Another slow holiday session as the indexes pulled back a bit in a lethargic environment. Since the holidays have began the market just has been very quiet. Today the S&P 500 fell 0.49% and the NASDAQ 0.61% – dip buyers never really showed up today. The December reading of the Conference Board’s consumer confidence index came in slightly lower-than-expected at 92.6.Continue reading
Today’s short market recap video can be found here. We will be doing a longer session tonight at 8 PM EST on examining 2014’s big losers to see if we can find some opportunities for 2015 – come join me.
It was another quiet holiday session as indexes opened slightly down on some political unrest in Greece but that was followed by buyers coming in early and the rest of the day was flattish. The S&P 500 was up 0.09% and the NASDAQ fractionally higher.
Stocks opened lower amid some pressure on European stocks from Greece’s failure to elect a president in a third round of elections. Greek stocks fell as much as 11 percent on the news, paving the way for a snap election on January 25, 2015. The result did not come as a surprise, with many analysts saying prior to the vote that the Greek government needed a “miracle” to avoid a general election.Continue reading
Today’s video market recap can be found here.
This entire week has been a typical “holiday week trading” atmosphere and today was no different. Indexes gapped up at the open, and then basically did nothing the rest of the day. The S&P 500 gained 0.33% and the NASDAQ 0.70%. It is doubtful next week will be too much different. Biotechs were an area of broad strength today which helped the NASDAQ outperform.Continue reading
Today’s market recap video here. We also did a special mid afternoon video during market hours where we tagged through a bevy of charts.
Tuesday was just another typical quiet holiday market day; the averages were mixed with the S&P 500 up 0.17% and the NASDAQ down 0.33%. Weakness in the biotech space (more on that later) hurt the NASDAQ. Tuesday’s economic reports had the U.S. economy soaring by 5 percent in the third quarter, the most rapid pace since the same period of 2003, while a separate report had orders for durable goods unexpectedly dropping in November. Other reports had consumer sentiment at 93.6 in December versus a 93.5 estimate and the sale of new single-family homes falling for a second month in November.Continue reading
Hi all – a few video opportunities today
8 PM EST on Ticker.tv, educational session with Kunal, Maribeth, and Sayed, see you there! Fill info here.
Today’s market recap can be found here – we also did a Sunday evening “trading ideas/education” session where we broke down about 12-15 charts in depth, found here.
Monday was a typical day in a holiday week. Short of financial crisis or government crisis we generally have quiet days with a generally positive skew much of the time in weeks of Thanksgiving and Christmas. Indexes opened flat, stayed there most of the day and then drifted up as the day progressed. The S&P 500 gained 0.38% and the NASDAQ 0.34%. Existing home sales fell 6.1 percent to 4.93 million in November.Continue reading
Today’s video recap can be found here.
Indexes followed up 2 very strong days with the type of action bulls will enjoy – a very constructive 3rd day. What we did not want to see today is a big drop and even a flat or small drop would have been more than fine as we try to “digest” the previous 48 hours. So a move to the upside was a big positive. Stocks gapped up a bit at the open and never really went negative all session. The S&P 500 gained 0.46% and the NASDAQ 0.36%. This was the biggest 3 day surge since November 2011 – thanks Janet Yellen aka Santa Claus.Continue reading
Hi everyone, Mark here. Today is my first video recap which you can find on my Ticker.tv channel here. I’ll probably start doing a few of these each week and try to do live sessions for 20-25 minutes in the evenings in the 6 PM to 7 PM EST time zone. You can click “follow” on my channel and you will get a notification when I start a new session.
Today was day 2 of a massive rally and it appears we might be right back to the now infamous “V shaped” rallies that have marked most of the past 6 years. These are 180 degree turns off the bottom that go straight up from there. The S&P 500 jumped 2.40% and the NASDAQ 2.24%. Indexes gapped up huge the open and never looked back. The Federal Reserve remains the most powerful drug on earth and yesterday’s dovish commentary has resulted in a vertical move.
“Just as with other instances, a dovish Fed is making up for a lot of bad news, from Europe and from other parts of the world,” Russ Koesterich, chief investment strategist at BlackRock Inc., said in an interview. “This is why you have this rebound rally after a few days of very harsh losses.”Continue reading