Right off the bat I'll tell you that in spite of today's weakness the Seven Sentinels did not go to a sell condition. Most likely it's because Friday was a positive day and today's action wasn't as ugly as early trading seemed to suggest it would be. In fact, the broader market recouped about half its losses by the close.
I would have to view today's market performance as a net positive in spite of the negative close. It was only late last week that the Earthquake,Tsumani, and nuclear
Why was the market down on Thursday and up on Friday? - On Friday, the market tried to decipher a day marred by disaster - and relief. The indices closed in positive territory for the most part, on a day when many expected trouble and we got even worse.... Market Commentary for 3/14/11 Current Daily Market Commentary
I found this week's charts to be very interesting. One set of charts changed very little, while the other changed quite a bit. As usual, I'll start with the Top 50.
These are the charts that changed markedly. The Top 50 took a much more significant position in cash (G fund), while lowering their collective risk to stocks (C, S, and I funds). In fact, stock allocations were almost cut by half. The week previous they
Watching the 50-day average Stocks were down last week as a combination of economic data, geopolitical events, and natural disasters shaped the financial environment and all of the major stock market averages closed lower. For the TSP, the C-fund lost 1.21% on the week, the S-fund fell 2.11%, and the I-fund 3.36%. Bonds (F-fund) gained 0.43%, and the G-fund was up 0.06%. The C-fund
After chopping around for most of the morning, stocks eventually turned up and mounted a moderate rally that saw the major indexes take back a small portion of this week's losses.
Oil has been under pressure of late and today was no exception as a barrel of oil fell 1.5% to $101.13.
In market data, the preliminary March Consumer Sentiment Survey came in at 68.2. This was the worst reading in five months and was well below analysts expectations.