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Stocks rallied early on Wednesday and the day was not without controversy. The Dow ended the day up 26-points but that was off the morning highs and we saw some small negative reversal patterns show up on many charts. Once again all eyes were on the political headlines, which shook things up a bit again.
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The market paused after the big rally on Monday, and smaller gains on Friday. The Dow chopped around and closed up a slight 5-points, and the S&P and Nasdaq were down just slightly. The Transports added onto recent rally, and small caps saw some profit taking, while the I-fund was held back by a rally in the dollar.

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Stocks gapped open higher on Monday, and the key was that it held. Often a Monday morning gap will get filled quickly and the market losses the rebound momentum, but not yesterday. The Dow closed off the highs of the day but still managed a nice gain of 135-points. The broader indices performed even better with 1% to 1.6% gains in most of the other major indices.

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There was some late selling on Friday afternoon, as you might expect heading into a weekend with so much geopolitical tension in the air, but the indices did manage to hold onto to some small to modest gains on the day. The Dow gained 14-points while the Transports, Nasdaq, and small caps led on the upside, but these were the ones hit the hardest recently.
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TommyIV is on vacation this week so I'm (Tom Crowley) filling in for him.

If you were waiting for volatility to finally spike in this market, your wait was over as the nuclear war rhetoric hit the market hard this week. Yes, the market was way overdue for some kind of pullback and this may have just been the excuse to do some selling. We saw evidence in the prior weeks of internal weakness while the major indices made new highs, especially the headline grabbing Dow, but some of the ...