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Originally Posted by coolhand

What comes after silly? Insane?

I've been saying for a few weeks now that this market could get silly to the upside and that even the bulls may be shaking their heads at some point. I saw this coming, though I don't make predictions. I just share my expectations based on what I'm looking at. My perspective is shaped by more than just the elements you read in my commentary. I know the matrix.

So, just when many were thinking market exhaustion, boom!; we get another

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Stocks opened sharply higher yesterday, but oh those emotional Monday morning gaps. You can't always trust them and yesterday's gap got filled late in the day as the Dow and S&P 500 gave up their hefty early gains and closed with modest losses. The Nasdaq was the leader as the stay at home tech stocks did most of the lifting. The Dow lost 185-points. Small caps also held onto a nice gain, but closed well off the morning highs.

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Originally Posted by coolhand

The market started out hot at the open, but peaked after an hour and began to slowly give back its gains all the way into the close. But it was still a mixed close with the DWCPF closing positive, while the S&P had a negative close. If this is what selling pressure looks like, the bulls will take it.




No serious damage to the charts, but the S&P is the decidedly weaker index. And it isn't in bad shape

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Stocks battled back from sharp early morning weakness to close with just minor losses on Friday. The Dow gained 47-points thanks to a 14% gain in Disney's stock, bucking the negative trend of the broader market indices. The S&P 500 ended the week with a modest, and probably much needed, loss of near 1%, while small caps continued their winning ways with another positive week. Bonds were up and may have broken out - again?

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