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Stocks rallied on Wednesday with President Trump helping the situation by giving his first official speech / talk on tax reform. The Dow ended the day up 27-points, but the broader indices performed much better with the Nasdaq leading with a 1% gain, while the I-fund got a headwind from a strong move in the dollar, and lagged.

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Stocks opened sharply lower on Tuesday and the Dow was down 130+ at the open, but that was actually higher than the 200-point loss we saw in overnight trading in the Dow futures. By the close things reversed positively and the Dow ended the day up 57-points. Volume was not too heavy as we would normally expect to see on a reversal day like that, but that's because of the time of year and the light volume added to the volatility.

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Stocks opened higher on Monday morning, but flattened out and by the close it was a mostly flat to slightly positive day, depending on the index. The Dow lost 5-points while the S&P and small caps added less than 0.1%. The Nasdaq and Transports and led with modest gains.

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Stocks rallied early on Friday as the market anticipated Janet Yellen's address in Jackson Hole, but she didn't deliver anything too note worthy and it led to some selling late as we headed into the weekend. The Dow ended the day up 30-points, about 100-points off the morning highs. Small caps and the I-fund outperformed as the dollar was hit pretty hard on Friday, while the Nasdaq lagged and posted a small loss.

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Stocks showed little direction this week with the exception of a rally on Tuesday sparked by Paul Ryan's comments on tax cuts; a subject that will continue to grab the attention of investors. Stocks pulled back the very next day and neither the bulls or bears were able to take control. Janet Yellen's anticipated speech in Jackson Hole was a bit of a disappointment on Friday. Nothing significant was said so traders and algorithms alike were not sure how to react.

In all it has been ...