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
Well, I wasn't surprised that we saw some selling pressure today as I did point out in yesterday's blog that TRIN and TRINQ were both suggesting an overbought market, which means a pullback is likely. But after such a strong rally on what appeared to be a possible key reversal day I certainly didn't think we'd see the market take out Monday's lows so soon. Especially given that market character had typically seen a market run in one direction for days at a time on an initial burst of strength (or