Both Asian and European markets showed strength in Friday's trading session, but it didn't carry over to our domestic market. At the close the Nasdaq was down 0.71%, while the DOW and S&P dropped 0.38% and 0.52% respectively.
It's likely the weakness was a response to a looming Government shutdown, which is making some traders nervous and unwilling to hold stocks over the weekend. But it is also true that earnings season starts soon, which is also a contributing factor to trader's
Updated 04-10-2011 at 06:02 AM by coolhand
TSP Talk Sentiment Survey results for the week of 04/11/11 - 04/15/11 BUY: The TSP Talk Sentiment Survey gave a buy signal this week after the 1.07 to 1 bulls (44%) to bears (41%) ratio. The system's allocation moves back to a 100% S-fund for the week of 04/11/11 - 04/15/11. 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 legal
It was a choppy day of trading with the major averages spending the bulk of the trading session below the neutral line. The biggest move of the day came just after 10:30 a.m. EST when news of another earthquake in Japan hit the wires and spiked the averages moderately lower. But it didn't take long for the broader market to find a bottom and by the close the market managed to post only modest losses overall.
In economic news, the European Central Bank hiked lending rates for the
Slow going - Stocks saw modest gains on Wednesday as the major indices flirt with new highs. The Dow gained 32-points on the day and the S&P 500 inched above the March highs... Market Commentary for 4/07/11 Current Daily Market Commentary
It was a boring day in the markets today, but the major averages did manage to close up overall with relatively modest gains.
There was no domestic economic data to speak of today, and overseas reports weren't particularly noteworthy either.
So the market seems content to mark time for now as resistance at the 1340 level of the S&P index continues to be a barrier, but support is holding too. It's just a matter of time now before the market makes its next move one way