STTG Market Recap Feb 11, 2015


A very quiet morning led to some volatility in the afternoon but in the end it was a quiet close on the indexes as the S&P 500 was fractionally lower while the NASDAQ added 0.28%. Most of the attention was on Greece again but most expect a can kicked down the road… as usual.

Greek Finance Minister Yanis Varoufakis met with euro zone finance ministers on Wednesday after his new leftist-led government won a parliamentary confidence vote for its refusal to extend an international bailout. The meeting included discussion of what could constitute a “bridge agreement” for Greece once its bailout expires on Feb. 28, a Greek government official told Reuters.

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STTG Market Recap October 30, 2014


Market indices continue to act well as morning weakness is met with strong buying; the type of action you want to see. The S&P 500 gained 0.62% and the NASDAQ 0.37%. There was some good economic data as the Commerce Department reported gross domestic product grew at a 3.5% annual rate in the third quarter, bolstered by a smaller trade deficit and a rise in defense spending.

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STTG Market Recap September 18, 2014


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


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


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


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


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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