STTG Market Recap November 14, 2014 – Stock Trading To Go

Friday was a choppy session with little momentum as indexes have now worked off their extreme overbought conditions.  The S&P 500 added 0.02% and the NASDAQ 0.18%.  U.S. retail sales rose 0.5% last month when stripping out volatile elements like gasoline, autos, building materials and food services, according to the Commerce Department data released on Friday. That was the biggest increase since August and just above analyst expectations of a 0.4% gain.  Retail sales account for about one-third of consumer spending, and overall they rose 0.3%, held back by a 1.5% drop in receipts at gasoline retailers.

Indexes remain in a steady position.

The NYSE McClellan Oscillator is back at a reasonable level so any rallies next week won’t be facing that headwind.

Apple (AAPL) continues to put together a new breakout, now in day three.

We mentioned a breakout over a key trendline in the Tesla Motors (TSLA) chart Tuesday and it has continued nicely the rest of the week.

The biotech sector (IBB) had a rough day of it as Biogen (BIIB) sunk – there was no obvious news on Biogen but the volume was very heavy on the selling which raises some eyebrows.

Amazon.com (AMZN) rallied as the online retailer ended a dispute with Hachette Book Group over print and digital book sales. Amazon’s dispute with Hachette focused on how much to charge for e-books and how the revenues should be shared.

Did you hear about bond giant Bill Gross’ year end pay package at PIMCO, his former employer?  A cool $290M.

Have a good weekend and we’ll see you back here Monday.

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STTG Market Recap November 14, 2014 – Stock Trading To Go