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Dip buyers and late selling

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After a 7th consecutive negative Friday, stocks bounced back on Monday when there were no reported major geopolitical issues over the weekend so investors Friday jitters were put to rest. There were signs of dip buyers in the morning as the early weakness was quickly bought, but as we got closer to the close, we saw some selling so there are still some nerves out there.

Daily TSP Funds Return

The Dow ended the day with a 27-point loss while the small caps got back almost half of Friday's losses, and the Nasdaq led with a strong day as tech continues to lead. The Dow Transportation gave up early gains to close down on the day and it remains in a large ominous bear flag.

The a two day Fed meeting starts this week but they are not expected to raise rates until June. Maybe the big concern going into this weekend will be the run-off election in France on Sunday. Apparently the polls are getting tighter, or someone wants us to think they are. More on that.


The S&P 500 / C-fund closed slightly higher yesterday and it's starting to create a nice looking bull flag, which is a pretty strong formation, but open gaps are even stronger so it may be a battle in the coming days.




The Transports are starting to look a little shaky and that's one to keep an eye on.

I was on the road most of the day on Monday and got home late so I am going to make this a brief report today.

Thanks for reading. We'll see you back here tomorrow.

Tom Crowley


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