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Stocks were mixed again yesterday with the Dow adding 21-points, the S&P 500 was flat, the Nasdaq was down, while small caps and the Transports had big days once again. The rotation out of tech and into financials, airlines, and smaller companies continued.
These share prices reflect Friday and Monday's market action because of Veteran's Day.
Stocks were mixed again on Thursday and Friday of last week as we see some sector rotation taking place after the election. The Dow gained 219 on Thursday and added 40 on Friday. The Nasdaq 100 has been the one that has been sold as we see more going into financials and small caps. On Thursday the Naz 100 lost 1.6% and was flat on Friday.
These share prices are for Thursday and do not reflect the action on Friday because of Veteran's
We've talked before about the uncertainty of this year's election that has created timid traders and investors the last couple of months as the election approached. That uncertainty wore off Monday as a rally was attributed to the increased probability of a Clinton win after the FBI dropped her e-mail case again. This meant a familiar market for traders as you would expect more of the status quo that we've seen from the past eight years with Obama in office if Clinton won. It was logically predicted
The action of the stock market over the period of about 17 hours from 7 PM ET on Tuesday when the polls started closing, until the stock market closed at 4 PM the next day was stunning. I don't care if you were in stocks or out, if you were watching you had moments of both terror and delight as it was one of the more emotional market moves I have seen in a while. I'll say it again... Stunning!... Given the circumstances and what was thought to be conventional wisdom if Trump had
Stocks didn't open all that strongly but as the day went on we saw some upside follow-through to the big Monday rally. The Dow ended the day up 73-points, which was a solid daily return, but that was just half of the early 140-point gain we saw at the peak, so investors weren't 100% confident holding into the close before the election results were announced.