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Stocks opened moderately higher on Tuesday but they drifted lower most of the day closing just off their lows, but the three major indices, Dow, S&P, and Nasdaq, did close without losses. The Dow gained 38-points but the S&P was flat and small caps were down on the day.
Stocks floundered a bit after Friday's big jobs report triggered rally. It's not the worst action in the world, but the bulls will have to wait another day to see if they can finally break out of this consolidation / trading range. The Dow lost 19-points while small caps and the I-fund lagged.
Early Friday morning the overnight futures were trading decidedly negative until the jobs report was released an hour before the market opened, and everything turned around. The Dow ended the day with a gain of 187-points turning a negative week into a slightly positive one. All of the major indices closed with gains of 0.5% to 1.2%.
It was another flatsville day on Wall Street on Thursday with the Dow slipping 6-points, the S&P was up slightly, and the Nasdaq and small caps posted small losses. The Transports lagged again, with the Transports posting it's 3rd sharp decline in a row to test the 50-day EMA.
Stock opened higher on Wednesday, feeding off of Apple's strong earnings report, but the indices peaked quickly and once again we saw a morning sell-off that caught a bid by late morning / early afternoon. The Nasdaq led the way with tech stocks rallying on the Apple report to have a sold day. The Dow closed with a gain of 27-points, while the S&P and small caps were fairly flat as well.