Unsettling market risk potential for Thursday and Friday
Today, Wednesday April 3, action in the three legs that support stocks near the highs for 2019 pointed toward significant risk for Thursday and Friday. The Standard & Poor's 500 index closed the day up 0.21% at 2873. Leg 1 for the market: The financials, the...Market takes profits today with risky weekend approaching
The major indexes don't tell the story today. As of 3:30 p.m. in New York the Standard & Poor's 500 was off 0.15% and the Dow Jones Industrial Average was ahead 0.3%. The real damage, though, was those stocks that had led the market up in the earlier part of the...Tech is back with a flood of cash likely to drive prices higher
All is right in tech land again, cash flows say. Last week investors and traders poured $670 million into the Technology Select Sector SPDR ETF (XLK). That’s the most in a year for the second largest technology ETF. Apple (AAPL) is the largest position in the ETF with a 15% weighting.
Saturday Night Quarterback says (on a Sunday), For the week ahead expect…
Last week, the Standard & Poor’s 500 went just about no where. We started the week at 2549 on the S&P 500 (that was the October 6 close) and ended at 2553 at the close on October 13. Check my math but that’s 4 points on the week for an index at 2550. That qualifies as massive sideways. Which can be a good thing.
Tech breakdown starts to look serious
The conventional wisdom at the end of last week was that we were witnessing a rotation out of tech shares and into financials and small cap stocks. In other words, nothing to get  too concerned about. Apple (AAPL) was a special case as surveys of retail channels showed weak sales for the iPhone 8. Today, though, the concern is a bit more serious.