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Stocks opened on the upside on Wednesday but we've seen a pattern of selling near the open lately, but also some buying toward the close giving us some "V" type of days. The Dow held up and was near the daily highs just before the close but the broader indices floundered a bit and we saw slight to modest losses in a few indices. Small caps lagged with a near 1% loss while the Transports led rallying on a series on decent earnings reports in that index.

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Stocks have been quiet lately and yesterday the S&P 500 put in its 3rd move of less than 2-points in the last 4 trading days. Momentum may have slowed but we still get pockets of strength as we saw the Dow gain 68-points with the help from a boost in Boeing's stock yesterday, and also the Nasdaq did well. After the bell we some important earnings reports were released but there was no consistency as some boosted stock prices while others were sold.

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Stocks floundered at the open on Monday but stabilized and held up well closing closer to the highs of the day, despite the red numbers. The Dow slipped 28-points while small caps and the Transportation Index lagged on the day. The Transports may feel a little more pain today after J.B. Hunt posted disappointing earnings after the bell yesterday.

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Stocks rallied on Friday and the Dow led the indices with a gain of 269-points, or 1.03%, after some better than expected earnings out of the financial sector. The other major indices each added about a half of a percent or so, which was just enough to push the S&P 500 into the green for the week after struggling earlier. Bonds were down as yields rallied, also helping the banks stocks.

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Stocks spent most of the week down from last week's close until big bank earnings and positive economic news out of China pushed stocks up Friday for their third straight week of gains. The trend of light volume resumed this week and trading was tight and uneventful for most of the week ahead of earnings. What seemed to be a good time for indices to pull back from their relentless surge turned into a breakout of resistance and new highs for the year.

JP Morgan came out with better-than-expected ...