TSP Talk Blog

Stocks opened higher on Friday but faded from the early highs and closed near the day's lows. The indices ended the day with mixed results as the Dow lost 57-points and the S&P 500 was down slightly, while the Nasdaq, small caps, and the Transports each closed with modest gains.

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Stocks chopped around in early trading Thursday, alternating between small losses and gains but by the afternoon they were on their way. The Dow gained 212-points after yet another oil news related headline hit the wire so investors had their catalyst, and they went with it.

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Stocks showed a lot of spunk on Wednesday as an early 260-point loss in the Dow reversed on a dime in late morning trading and headed up for the rest of the day. The 53-point gain wasn't all that impressive, but it was more than 300-points from the low to the close. It appears that oil was the culprit again.

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Stocks played Turnaround Tuesday yesterday as Monday's big gains were nearly completely reversed. The Dow gave up 189-points and many of the major indices lost 1% or more. The losses weren't overwhelming. We simply saw many of the gaps opened on Monday morning get filled. But the issue is where stocks are stalling - right at some major resistance levels, and if they don't bounce back quickly, the bear market rally could be over.

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Stocks opened sharply higher on Monday and maintained solid gains throughout the day. The Dow ended the day with 229-point gain. We saw some breakouts and some near misses. If there's a problem with the action it is that there was very light trading volume, particularly compared to the volume we saw during the selling.

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