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Stocks rebounded on Thursday after Wednesday's surprise sell off. Point-wise, it was a good day but the rebound wasn't all that impressive as the indices closed well off their earlier highs. The Dow ended the day with a gain of 300-points or 1%. The S&P 500 had a similar gain and the Nasdaq lost a lot of steam in the final couple of hours and gained just 0.50% after closing about 200-points of its high of the day. Bonds were down, as was the dollar.

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Originally Posted by coolhand

After yesterday's heaving sell-off, the market opened on a positive note. The S&P continued to rise into mid-day then peaked and sold down into the close, erasing much of its intraday gains. The DWCPF was more up and down, peaking later in the afternoon than the S&P, but also sold down in the final hour or so. Both closed positive, but the late afternoon selling pressure is not bullish.




Price remains

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Someone pulled the plug on the market yesterday after a week of a series of strange events. We mentioned Gamestop, as has every other market pundit in the world, but that type of action is starting to spread and the overall market doesn't seem to know what to make of it. The Dow lost 634-points and 2% to 3% losses were seen across the board.

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Originally Posted by coolhand

While I've maintained my bullishness for some now, I've cautioned that I am wary of this market even as the indicators (and smart money) were still largely bullish. Market character can change quickly under the right (or wrong) circumstance. In this case, a new administration was a potential circumstance because the market is always looking ahead and if sees something it doesn't like it will let everyone know it. Is this what we are seeing now? Perhaps.

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It was a very quiet day on Tuesday with a lull in volatility and the major indices nearly flat lining. The small caps and the Transportation Index were the losers with each falling over 1% on the day. Bonds were flat and the dollar was down again.

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