TSP Talk Blog

Stocks gapped open significantly higher on Monday and never looked back as the Dow closed up 264-points, it's best gain since February 3 and was never really up less than 100-points after the opening bell. Corporate mergers and optimism that central banks will support for global growth was the reason given to the rally.

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Stocks traded in a fairly tight range on Friday with the bulls winning the battle as the Dow gained 34-points. It wasn't exactly a capitulation from the bears, but the S&P 500 was able to close well above the Thursday lows for a 2nd straight day. The bulls do have some more work to do, but it looks like they haven't given up quite yet. It's getting close to do or die.

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Stocks opened sharply lower again on Thursday but we finally saw buyers step up, and we actually saw some green a few times during the day, but by the close the bears pushed the indices into modestly negative territory. The Dow lost 40-points while bonds were down fairly sharply.

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Stocks fell sharply on Wednesday as the Dow shed 293-points and this week's "dip" has turned into another outright pullback. The S&P 500 has now gone 26 days without posting back-to-back gains, the longest streak since 1994. So, the choppiness continues.

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Stocks tried to put a rally together on Tuesday morning, but the bulls stepped aside and let the bears have another day. The Dow lost 105-points during the light volume sell-off. So, is this just a typical 2+ day pullback in a bull market or are we looking at the start of a pullback that takes the recent gains away?

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