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08/15/13

Stocks fell yesterday as the Dow lost 113-points, while the S&P 500 and small caps saw modest losses, the International Fund rallied, and bonds ticked up.
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08/14/13

Stocks opened higher but quickly retreated during the first couple hours of trading. Buyers stepped up again taking most indices into positive territory, but they closed off the highs. The Dow, which had been down about 75-points in early trading, and up about 85 after lunch, closed up 31-points.

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08/13/13

Stocks opened lower on Monday morning, but immediately bounced to recover the early losses. It was a very dull day from there as the indices moved sideways on light volume. The Dow ended the day down 6-points, and small caps led the way again.

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08/12/13

Stocks declined on Friday although small caps held up pretty well. The Dow lost 73-points, but once again that was well off the morning's 150-point losses. It was the first weekly loss of any significance since June.

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Last week, I was looking for weakness given the bullish reading of our sentiment survey as well as negative seasonality, but I wasn't looking for a lot of downside action. We got the weakness and it was limited. This week, our sentiment survey is more bearish (bullish), which makes me inclined to look for some strength now. I had no auto-tracker signals last week and none were triggered for this week either. Here's the charts:


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