TSP Talk Blog

The market action yesterday may be looked at from a couple of vantage points, and depending on which angle you take, the action may have seemed bullish, or bearish. The Dow ended the day up 15-points, but it was up over 90 earlier in the afternoon so the bulls gave way and couldn't hold onto those gains. But the bears had many reasons to push things lower yesterday, and they didn't do a good job either.

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It was a nasty reversal for stocks on Wednesday as a nearly 200-point rally in the Dow turned into a 41-point loss by the close. It was the worst reversal in 14 months. The charts had improved greatly with the early action, but the Fed Minutes and some comments from Speaker of the House Paul Ryan reversed everything.

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Stocks opened lower on Tuesday but after an early battle, the bulls were able to push the large cap indices into the green and hang onto some small gains into the close. The Dow ended the up 39-points but small caps closed just south of even.

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Stocks opened flat on Monday but quickly sold off and before long the Dow was down 145-points. By about noon ET the bleeding stopped and stocks caught a bid and closed fairly strongly, although still in negative territory. The Dow closed down 13-points with more moderate losses in the S&P and Nasdaq, while small caps struggled.

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Stocks chopped around in a fairly tight range on Friday but a late decline pushed the indices to their lows of the day setting up a negative reversal day on some of the charts. Small caps actually closed with a gain but the Dow lost 65-points on the day and it turned to be the first negative Month for the Dow since October.
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