From the Trading Desk

Stocks Fall Hard as Distribution Mounts

Thursday’s stock market action was quite telling with a high volume down day resulting in a day of distribution across the board. Losses were heavy across the board and now with 9 distribution day’s the NASDAQ appears weak enough to move back towards its 200-day moving average. Since June the QQQs have endured heavy distribution, […]

Stocks Sneak Away with Gains after Fed Minutes

Wednesday’s session was a bit lackluster with the market unable to hold majority of the day’s gains. Volume was up across the board, but given where we ended it isn’t inspiring this attempt at a rally will be fruitful. GOOGL and AMZN appear to be rolling over even as GOOGL has formed an inverted head […]

Stocks follow up Monday with Quiet Session

A quiet day on Tuesday with the Dow inching out gains while the S&P 500 and NASDAQ finish to the downside. Volume was mixed with NYSE volume jumping while NASDAQ volume fell on the session. Not a bad session by any stretch of the imagination given the big move on Monday. The VIX continued is […]

Stocks Start the week on the Positive Side

After last week’s tumble, the market aimed to stage a comeback on Monday. Volume was lower across the board as Summer and Monday trading hold true to form. The news cycle continued to focus on the appalling situation over the weekend and turned away from North Korea. VIX fell on the session as stocks moved […]

Friday Morning Coffee: Stocks Fall Hard; Red Flags Fly

It was bound to happen as stocks made their way higher into new all-time high territory sellers would come in and hit stocks. We have seen this happen before in May and in June. This time, seasonality is on the side of sellers and with roughly two months left of weak seasonality this may not […]

Summer Trading Continues, NASDAQ hit with Distribution

Volume was mixed across the board as NYSE volume fell with NASDAQ volume rising on the session. The NASDAQ fell 56bps and given the higher volume is classified as a distribution day. We expect lackluster to weak action during the summer months and yesterday was a prime example of summer time trading. The positive on […]

Stocks Stall out at Highs, Volume Jumps

Tuesday was not the type of day you would expect after the mornings strength. Volume rose on the session as traders left as quickly as they entered the market Tuesday morning. The high turnover produced a bearish reversal for the first time in quite some time. AAPL hit another all-time high, but by the end-of-the-day […]

Traders Welcomed back with Low Turnover and New Highs

Once again, the Dow sets another record high for the 9th straight day closing higher for the 10th day in a row. While gains are not tremendous we continue to see the index act well despite the negativity surrounding the market. The QQQs finished higher by 63bps despite volume coming in much lower than we […]

Friday Morning Coffee: Jobs Report in Focus

Futures are pushing higher this morning in anticipating a positive jobs report. Yesterday’s action was once again okay as the NASDAQ and S&P 500 closed lower without too much damage. The Dow hit its 7th all-time high in a row. There is nothing bearish about new all-time highs. Yes, we need a bit of consolidation. […]

Thursday Morning Brief: Divergence Appears

Yesterday’s trading action was not precisely what you would like to see out of this market. First, it was nice to see support at the morning lows and for the market to shake off sellers. However, internally our portfolios saw a lot of weakness. Small cap stocks suffered it the worse ending the day down […]