Please read our AutoTracker policy on the IFT deadline and remaining active. Thanks!
iPhone Forum App | Android Forum App |
Forum Runner App |
TapaTalk Forum App
Mobile Styles for MB | TSP Talk Toolbar
* - Politics Forum Thread (How to Gain Access)
$ - Premium Service Content (Info)
Find us on: Facebook & Twitter | Forum Apps | Stop Loss Calculator | Posting Copyrighted Material
Stocks opened lower on Wednesday, and stay low as most of Tuesday's big gains were erased. The Dow lost 217 after gaining 222 on Tuesday. Disney was the big loser for the Dow, and after that, anything retail related got clobbered.
Stocks rallied sharply on Tuesday as the Dow jumped 222-points with a rally in oil being called the main catalyst. China's Shanghai Index stopped the bleeding with a small gain yesterday, and Japan rallied over 2%, so if the market was looking for a excuses to go higher after recently rebounding off of key moving averages, it found them. We saw 1% plus gains in indices across the board.
The direction is still unclear. The price remains in both superimposed channels:
A few recent talking heads regarding gold, etc:
GDX took a big hit Monday--down over 6%. Profit taking in light of a stronger dollar is mostly blamed for the fall by the mainstream media.
This chart seems to suggest that there is uncertainty in which direction the trend, if any at all, is heading. Perhaps today will be the deciding factor.
The Dow lost 35-points on Monday but the major indices were quite mixed with strength in the small caps and the Nasdaq, and weakness in indices with exposure to oil and China, which were down sharply.
Earnings season is winding down and now all eyes are back on interest rate impacting data leading into June's FOMC meeting.