Small Caps Heating Up

Investor’s first readDaily edge before the open

DJIA: 17,696
S&P 500: 2,059
Nasdaq  Comp.:4,880
Russell 2000:    1,251
Thursday, April 2, 2015   9:02 a.m.

CONCLUSION:

Yesterday’s plunge took the DJIA and S&P 500 down to the lower end of the Feb. – Mar.  consolidation range (DJIA 17,600 – 18,200; S&P 500: 2,040 – 2,115), but a rebound shortly after the open stabilized prices, heading off a breakdown. The Nasdaq Comp. also rebounded early in the day but the small company Russell 2000 remained solidly in an uptrend confirming my conclusion that the Street is opting for greater risk.  New Highs in the Russell are likely this week or early next as is a rebound in the other three market averages.

Today’s support is DJIA 17,653; S&P 500: 2,055; Nasdaq Comp. 4,862c.

Today’s resistance is 17,801; S&P 500: 2,073; Nasdaq Comp.:4,906.

 KEY FACTORS: 

Mortgage apps and refi’s were up sharply in the 3/27 week, which bodes well for this summer’s real estate season.

-ADP Employment tanked in March with 189,000 new hires vs projected 240,000.

-Other economic indicators reported Wednesday were mixed.
-The Fed and it’s first bump up in interest rates.

Concern that the U.S. economy is beginning to slump.

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.


George Brooks

Investor’s first read

A Game-On Analysis, LLC publication

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Note: I discontinued my daily – before – open publishing of Investor’s first read on November 5, 2014, after 6 years (1.600 posts).  Future publishing will be on a less frequent basis and not always before the market opens. In the interim, I will publish as I see necessary as I craft a new format.

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Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk.

 

 

 

 

 

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