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Stocks opened sharply lower on Tuesday and the Dow was down 130+ at the open, but that was actually higher than the 200-point loss we saw in overnight trading in the Dow futures. By the close things reversed positively and the Dow ended the day up 57-points. Volume was not too heavy as we would normally expect to see on a reversal day like that, but that's because of the time of year and the light volume added to the volatility.

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Stocks opened higher on Monday morning, but flattened out and by the close it was a mostly flat to slightly positive day, depending on the index. The Dow lost 5-points while the S&P and small caps added less than 0.1%. The Nasdaq and Transports and led with modest gains.

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Stocks rallied early on Friday as the market anticipated Janet Yellen's address in Jackson Hole, but she didn't deliver anything too note worthy and it led to some selling late as we headed into the weekend. The Dow ended the day up 30-points, about 100-points off the morning highs. Small caps and the I-fund outperformed as the dollar was hit pretty hard on Friday, while the Nasdaq lagged and posted a small loss.

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Stocks showed little direction this week with the exception of a rally on Tuesday sparked by Paul Ryan's comments on tax cuts; a subject that will continue to grab the attention of investors. Stocks pulled back the very next day and neither the bulls or bears were able to take control. Janet Yellen's anticipated speech in Jackson Hole was a bit of a disappointment on Friday. Nothing significant was said so traders and algorithms alike were not sure how to react.

In all it has been ...

Stocks opened higher on Thursday but sellers came in fairly quickly, and another mid-morning rally was interrupted by a tweet from President Trump. The Dow ended the day down 29-points and the indices traded in a tight range but not all indices were treated equally. Small caps led with modest gains while the Transports lagged with a stiff loss.
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