CNBC was intently watching the major averages in the final hour of trade, and provided listeners with a play by play accounting of whether it looked like stocks would end the week in the green or make it seven straight weekly losses. In the end, stocks barely pulled up enough at the close to log their first weekly advance in seven weeks.
It appears a positive tone began in Europe, as Greece released an announcement that a new finance minister had been appointed. This coincided with
A strong close? - After an early rally, the market did its usual afternoon dive, but we finally saw a last hour rally yesterday. I had forgotten what it was like to see the market rally into the close. The Dow gained 64-points on the day, but other indices didn't fare as well... Current Daily Market Commentary Market Commentary for 6/17/11
TSP Talk Sentiment Survey results for the week of 06/20/11- 06/24/11 Buy: The TSP Talk Sentiment Survey came in at 33% bulls, 56% bears, for a bulls to bears ratio of 0.59 to 1. That is a buy signal so the system's allocation remains 100% S-Fund the week of 06/20/11 - 06/24/11. Bull market rules are in affect since 9/27/10: See latest survey results To discuss or comment on the Sentiment Survey, go to Sentiment Survey Talk
The trading day started out a bit mixed, but stocks remained moderately in the green all the way up to about 1:30 est, and then some selling pressure kicked in that saw the major averages fall to moderate losses before rallying in the final hour to end up near the neutral line.
Greece's political, social, and fiscal woes continue to be focal points for market participants.
Here at home, the initial jobless claims number was released early in the morning, and it came
Wild Wednesday - Turnaround Tuesday ran into Wild Wednesday and the big gains we saw earlier in the week have disappeared, and then some. The Dow lost 179-points. Are we in for a 7th week in a row of losses?... Current Daily Market Commentary Market Commentary for 6/16/11