Daily Market Commentary

Stocks were down on Wednesday after another wild ride. It wasn't a severe down day, but it was a severe reversal. The Dow lost 167-points or 0.67%, but that looks a lot worse when you factor in the early 303-point gain at the highs just an hour or so before the closing bell, so that's a 470-point intraday turnaround. The S-fund was down a slight 0.15%, which is interesting because the index it follows was down 0.68%.
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Stocks were down on Tuesday, following up on the negative reversal on Friday before the long holiday weekend. The Dow lost 255-points and was the laggard with the help of a sell-off in Wal-Mart's stock. The Nasdaq led the way and was up most of the day before dipping into the red in the final hour of trading. ...

Stocks rallied early on Friday, but faded and erased some large gains. The indices finished mixed with the Dow adding 19-points or 0.8%, while the S&P was also basically flat. The Nasdaq was down but there were modest gains in the small caps and international funds.
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Stocks were higher again on Thursday with a 5th straight explosive rally. The 306-point gain pushed the Dow back above 25,000, but of course there were no hats and horns this time because it is still 1400 points below its high from a couple of weeks ago. Is that where it's heading, or will this relief rally run out of steam before then?

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Stocks opened lower on Wednesday but quickly bounced back and the indices enjoyed big gains across the board. The Dow gained another 253-points, or 1%, and it was the laggard on the day. Small caps and the Nasdaq led with gains of 1.8%, while bonds were down again as inflation numbers continue to move higher.
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