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Daily Market Commentary

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  1. Fed fuels rally

    Stocks opened higher on Thursday, and just kept going. The Dow gained 180-points and 1% or higher gains were picked up by most major indices.

    I didn't see any major catalyst except for possibly a Fed hangover. A weaker than expected CPI and a stronger than expected weekly jobless claims should not have done this, but that's about when the rally started. The Fed's job these days seems to be to keep the stock market from falling.
  2. The Fed helps stocks erase losses, but resistance holds

    Stocks were up early on Wednesday but drifted lower as we approached the FOMC policy statement. After the statement the market had its usual violent ups and downs but settled with modest gains. The Dow ended the day up 31-points.

  3. Stocks bounce back again, but there's more work to do

    It was another Turnaround Tuesday yesterday on Wall Street as most of the indices regained Monday's losses, plus some. The Dow gained 113-points while the S&P and small caps added just over 0.5%. The bearish Dow Transportation Index was down again.

  4. Stocks sink, but close off the morning lows

    Stocks opened sharply lower on Monday but stabilized rather quickly and ended the day with some modest losses. Emotional gap opens on Monday mornings tend to get filled quickly, and it did try to fill the gap but didn't quite make it. The Dow ended the day down 108-points after being down about 200 at its lows.

  5. Greece causing problems again

    Stocks were lower on Friday as the problems in Greece boiled to the surface again. I'm sure there will be an eventual resolution as there always is, but for now the global markets seem a little bugged by the situation. The Dow lost 141-points on Friday, and as write this on Sunday evening, the indices futures are down about 0.5%.

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