From the Trading Desk

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 […]

Thursday Morning Coffee: Fed to Start Unwind Soon as Uptrend Continues

A lackluster day for the markets after the Fed stated their run-off of their balance sheet would begin relatively soon. While initially the market dropped and popped it was unable to really muster up enough buyers to return to the highs of the session. Small caps nearly gave up all their gains during the session, […]

Wednesday Morning Coffee: Low VIX and the Fed

Yesterday’s trading session witness to a new low for the VIX of 9.0 as Small Caps led with solid gains. Volume jumped across the board, but our close was not all that impressive. Earnings continue to pour in and for the most part the results are better than expected. CAT and MCD reported better than […]

Crude Tumbles Again; Bonds Rally as Stocks Fall

Despite gains from Alphabet (GOOGL) the market could not hold off sellers as crude oil sunk more than 5% on the session. Bonds rallied on the day with the 10 year yield move below 1.9%. Why this is occurring is anyone’s best guess, but we are not about to argue with price action here. We […]

FB Leads NASDAQ Higher

Disappointing durable goods orders could not keep the market down as rising crude prices and FB pushed the market higher. First, FB reaction to earnings certainly boosted the market as the company destroyed expectations. Crude helped futures gallop higher after a headline stated there was a potential production cut by Saudi Arabia. While the headline […]

Late Day Rally lifts Stocks off Lows; Worse Start in nearly 84 Years

Overnight Chinese markets were halted as selling flooded their markets causing circuit breakers to halt trading for the day. Markets around the world reacted negatively and continued through the European market close. Volume ended higher across the board as institutions were quite active in the market today. Not all was bad as the last 30 […]

Santa Rally continues as Stocks close higher

Another day and another positive day for stocks as the market is right back where it started when the Fed raised rates. Volume remains below average, but price certainly has improved after last Thursday’s and Friday’s action. All day long any dip was met with buyers, but traders were not piling into the market like […]

Stocks Make it Two in a Row

For the second straight day the market closed with gains. As stocks moved higher volume moved lower as traders and institutions are simply not interested in accumulating shares ahead of the Christmas holiday. Economic data was mixed with GDP coming in better than expected, but home sales slumping well below expectations. The light volume certainly […]

Hopes of a Santa Claus Rally Rise with Today’s Gains

After last Thursday and Friday’s action there was a hope the market would rebound and rally into the end of the week. Volume was not too impressive, but coming off of Friday’s elevated levels due to quadruple witching. What really made today’s rally was the last 30 minutes of the session where a flood of […]

Volume Slows as Stocks Slide

For the most part today was a pretty decent day of consolidation for the overall market. Early morning gains were quickly erased before the market could really get its feet underneath itself. Selling was not unrelenting as volume was well under Tuesday’s level. Small cap stocks were hit the hardest. We continue to see a […]