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Daily Market Commentary

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  1. Big morning reversal, Wednesday

    Stocks came roaring out of the gate on Wednesday morning, posting some big early gains, but that didn't last long. About an hour into the trading day things reversed rather dramatically, falling down in sympathy with the price of oil for the next two and half hours before bottoming in the early afternoon. The Dow gave up 76-points, but once again we saw larger percentage losses in the broader indices.

  2. Stocks slip again

    Stocks lost ground again on Tuesday although for a second straight day the buyers are stepping up and taking the indices well off their worst intraday levels. The Dow ended the day down 163-points, while the price of oil rebounded slightly but remains near the 2008-2009 lows.

  3. Stocks pullback as oil plummets

    Stocks opened relatively flat on Monday but sellers took control early and pushed the Dow down over 200-points a couple of times before we saw some buying kick in later in the day. By the close the Dow was down 117-points, a nice improvement, but once again we saw more weakness from the small caps and Transports.

  4. Big rally after jobs report

    Stocks soared on Friday after a better than expected jobs report. Investors obviously embraced a report that basically cemented a rate hike next week. The November jobs report came in at +211,000, which was about 10K to 15K more than expected.

    The 370-point rally in the Dow more than erased Thursday's major sell-off after the ECB disappointed investors announcing smaller than expected stimulus measured. ...
  5. Sell-off

    Whatever it was, the massacre in California, the probable upcoming interest rate hike, the Fed on Capitol Hill, Mario Draghi on stimulus measure, Friday's jobs report, or something else, it seemed investors were looking for a reason to sell. The Dow lost 252-points and we saw a few breakdowns in the charts.

    This morning, Friday we get the November jobs report and estimates are looking for a gain of about 196,000 jobs, and an unemployment rate of 5.0%.
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