The action didn't change much today. We did get some token selling pressure followed by more dip buying, but overall the action was dull. And there was nothing worth noting in the news either.
So let's go to the charts:
NAMO and NYMO are not showing much movement, but do remain on sells.
NAHL picked up a bit, but remains
After a weak opening, we saw another modest, light volume rally yesterday as another day goes by without a pullback. Amazingly, it was more news out of Greece that reversed the early downside. Has it been 2 years now that we have played this game? The Dow gained 33-points. For the TSP, the C-fund was up 0.21% yesterday, the S-fund added 0.03%, the I-fund
The market opened to the downside again today, but once again the dip buyers stepped in and took it back up. But once it got around the neutral line later in the morning session, it chopped around in a very tight range. Not very exciting action, but the market did close with modest gains.
I keep seeing media reports of a possible Greek agreement, but that's been the case now for some time. All talk, little action.
Updated 02-08-2012 at 05:47 PM by coolhand
Yesterday was a rather boring day with a minor hiccup in the indices. That is just what the bulls would want - a low volume dip that the bears could not jump on, despite some concerning news out of Europe. The Dow lost 17-points on the day. For the TSP, the C-fund slipped 0.04% yesterday, the S-fund dipped 0.11%, the I-fund
The underlying market strength continues as sellers were unable to do much damage today. This in spite of one of the lowest volume days of the past decade. Volume on the NYSE was under 700 million shares traded. With such low volume and little price movement it's easy to conclude that the downside is still limited. At least for the moment.
There was very little news today, so I'll go right to the charts this evening.
Updated 02-07-2012 at 05:01 AM by coolhand