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Believe it or not, stocks opened higher on Tuesday but it turned out to be a Turnaround Tuesday and stocks spent most of the day heading south after the open. The financial stocks, which led the way higher during the Trump rally, led the way on the downside yesterday and that's impacting both the large and small cap indices. The Dow ended the day with a loss of 238-points while small caps took an even bigger loss percentage-wise. The dollar was down sharply helping
Stocks were mixed but mostly lower on Monday with the Dow losing 9-points, the S&P shedding almost 5, while the Nasdaq was flat. Small caps and the Transports lagged.
Stocks were mostly flat again on Friday as volatility has been low and trading ranges tight lately. The Dow lost just 20-points but because of the weak close, it felt technically worse than it was as you can see in the Friday intraday charts below. The small caps and International stocks held onto gains while the S&P slipped a few points.
Stocks opened modestly higher on Wednesday and accelerated to the upside after the FOMC rate hike announcement. There was a slight dip into the close so the indices ended the day off their highs, but the Dow gained 113-points with larger percentage gains in the broader indices.
Investors showed some nerves in front of today's FOMC meeting and probable rate hike. The Dow lost 44-points on the day but once again we are seeing some buying into the close so the dip are out there. They just weren't being very enthusiastic the day before the Fed meeting.