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Stocks closed well off their highs on Wednesday, but still managed to end the day with decent gains. The Dow gained 76-points while most of the major indices gained about a half of a percent.
Better than expected earnings from a couple of large banks and Intel rallied on a solid report. The thing is, when expectations are low, it doesn't take much to impress investors. We recently talked about "sell the rumor, buy the news", or as I saw in Reuters
Stocks were mixed on Tuesday with the Dow gaining 60-points, the S&P 500 up modestly, the small caps were basically flat, while the Nasdaq and Tranports were down. But all of them finished well off the lows and turned a negative reversal day on Monday, into a positive reversal day on Tuesday.
Stocks opened higher on Monday, but quickly ran out of steam and headed lower all afternoon and into the close. The Dow lost 81-points, or 0.45%, and the talk is concern over lowered earnings estimates. The negative reversal patterns on the charts are very apparent, but volume was light so it probably wasn't the big money selling.
Stocks floated modestly higher on Friday, with little push back from the bears, and after some panic selling following the release of the prior week's jobs report (in the futures market) stocks came back strong and posted gains between 1% and 1.7%% in the TSP funds last week.
TSP Talk Sentiment Survey results for the week of 04/13/15- 04/17/15
The TSP Talk Sentiment Survey came in at 50% bulls, 28% bears.
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Updated 04-27-2015 at 12:06 AM by TommyIV