Options Expiration is now behind us until next month and it wasn't as volatile as one might have expected given the relentless news headlines that keep hitting the masses.
But stocks did jump out the gate strong at the open on news that the G7 planned to intervene on behalf of the Japanese currency, which was setting record highs against the dollar in recent trading. But this currency manipulation is having effects in other markets, and those effects are driving the dollar index
Beware the rebound - Stocks rebounded nicely on Thursday with Dow jumping 161-points. I'm not complaining but there is a long way to go before this market is out of the woods... Market Commentary for 3/18/11 Current Daily Market Commentary
TSP Talk Sentiment Survey results for the week of 03/21/11 - 03/25/11 Buy: The TSP Talk Sentiment Survey gave another buy signal this week after the 0.75 to 1 bulls (39%) to bears (52%) ratio. The system's allocation remains 100% S-Fund for next week. 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 legal stuff: This system is
While the S&P posted significant gains today, the broader market was a bit more subdued. At the close the S&P saw a gain of +1.34%, while the rest of the market (the Wilshire 4500) posted a gain of only +0.58%. The DOW closed with a +1.39% gain, while the Nasdaq closed with a +0.73% gain.
It's only one day, but it sure looks like traders are favoring larger issues over smaller ones, and commodities over technology. But again, it's only one day and hardly indicative of a trend.
Looking for rally to sell - Stocks were rocked again yesterday as buyers do not appear to want to buy the dips anymore. Instead, a sharp mid-day rally was sold, and the Dow closed down another 242-points... Market Commentary for 3/17/11 Current Daily Market Commentary