Daily Trading Outlook

Equities were routed again on Monday after a tough end to the previous week.  The S&P 500 Index suffered its steepest 1-day decline since 2022, losing 3.00% on the day.  The Dow was off 2.60% and the Nasdaq lagged, posting a decline of 3.43%.   Sunday saw Goldman Sachs economists raise their recession probability call to

Equities continued a sharp near-term slide on Friday with the major indices all off >1.5% with the Nasdaq giving up 2.43% and the S&P 500 off 1.84%.  Futures opened the Sunday evening session negative as Oil prices rise. Unsurprisingly the VIX spiked to above 20 for the first time since April and low volatility, high

  Negative economic data finally hit the tape as a bad thing with ISM surveys delivering signs of deepening contraction, sending equities lower.  The Dow finished the day off 1.21% while the S&P 500 closed down 1.37%, while the Nasdaq composite gave up 2.30%.   Low vol. sectors led the tape as the XLU, XLRE and

Equities closed the week on a positive note with investors “buying the dip” into the weekend after a week that saw the Technology Sector fall out of the leadership spot for the year replaced by the Financial Sector.  The major US Indices were all positive on the day with the Dow leading the advance adding

Pressure continued on XLC and XLK shares as major US indices closed mixed with the Dow up 0.20% while the S&P 500 finished off 0.51% and the Nasdaq composite gave back 0.93%.  XLK is now registering a classic near-term oversold condition, and we expect buyers to start sizing up opportunities and defending near-term support. The

Soft earnings reports from Mag7 members GOOGL and TSLA led to the S&P 500 to trade off 2.31% snapping an impressive streak without a decline of more than 2%.  The Nasdaq was down 3.64% and the Dow declined 1.25%.  At the Sector level, the XLK Technology ETF led SPDR’s lower down more than 4%, ending