Scott Martindale

As earnings season gets underway with mixed results but a generally positive trend, Wall Street analysts are coming out with upgrades and downgrades to earnings estimates that are significantly impacting our sector rankings this week.

This week’s economic calendar features two bellwethers of consumer confidence (one on Tuesday and one on Friday), the FOMC announcement on interest rates on Wednesday, the weekly jobless claims on Thursday, and the quarterly GDP growth rate on Friday.  But it is unlikely that these numbers will have much of an impact on the market this week.

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This week should be another interesting one, but it’s hard to say whether it can match the market’s behavior last week when it donned rose-colored glasses to view four days of mixed economic data.

david / Tag: AA, AMD, ATW, BAC, GE, GME, GS, IBM, JPM, sectors, SYA, UPS, WCRX, YUM / 0 Comments

Scott Martindale

The market twice threatened to pullback over the past week, but each time it resumed its methodical upward trajectory. The S&P 500 set a new intra-day 52-week high on Monday, and then set another 52-week closing high on Tuesday. Sabrient’s SectorCast-ETF model shows little change from last week, with Healthcare on top, again followed by InfoTech and Consumer Discretionary.

It has been a week of sparse market-moving news, but what news there was continued to be generally supportive of the market’s slow growth recovery. Remarkably, volatility continues to be very low. Unlike the 6 to 10% gyrations (in both directions) of late 2008 and early 2009, we’ve seen very few days this year when the market has moved more than 1% in either direction.

david / Tag: AA, BAC, GE, GOOG, INTC, JPM, ORRF, sectors, UGI, USMO, VMW / 0 Comments

Scott Martindale

After a brief consolidation period and staying flat for two weeks, the market has resumed its upward march, with the S&P 500 setting new 52-week highs each day. Healthcare now tops the forward-looking rankings, followed by InfoTech and Consumer Discretionary, both of which continue their impressive climb.

The market continued its slow but persistent trek upward, inching along as it did during the holiday-shortened past week. In fact, the S&P 500 set an 18-month high today at 1187.73 and closed very near the high.

david / Tag: Add new tag, GPRE, PL, sectors, SVR, VRX / 0 Comments