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Stocks were down to start the new week as the Dow shed a modest 55-points on Monday, with larger percentage losses in the broader indices. The positive open made it a fairly good candidate as a negative reversal day, which means some potential weakness early today, but the momentum has been so positive and it's been tough to keep this market down. Small caps lagged.

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Stocks rallied again Friday on the prospects of tax cuts as the Senate passed a budget putting the plan closer to reality. The Dow gained 166-points while the C and S funds gained just over 1/2 of a percent each. The I-fund and bonds (F-fund) were down on the day as the dollar rallied and yields moved higher.
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The relentless uptrend of stocks continued this week despite poor earnings reports and lackluster news on the road to tax cuts. Volume remains low through all of this so whoever is still trading seems to be buying while everyone else is holding tight to stocks until everyone else decides to sell. What will spark a sell off is uncertain. Bad news does not affect the market anymore with bad earnings reports and poor economic news stories being the case this week. Those who have ridden the trend has ...

A bit of a scare in overseas markets rolled into the U.S. open on Friday as they talked about asset bubbles, but that didn't last long and we got the familiar October flat close. The Dow, which was down over 100-points near the open, closed with a gain of 5, while the S&P was also flat and the Nasdaq and small caps posted minor losses.

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IBM was up close to 9% yesterday and that accounted for much of the 160-point gain in the Dow on Wednesday. The more broader indices like the Nasdaq and S&P 500 were flat on the day, while the small caps, Transports and I-fund bounced back from some recent losses. Bonds pulled back while trying to hold onto its bull flag.

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