Daily Market Commentary

For the 9th day in a row, stocks alternated between a positive day and a negative day, and there have been only 2 days this month that saw a repeated move (both up). Yesterday's gain was a good one with the Dow adding 113-points. There was a little bit of selling as we approached the close to push the indices off their highs thus avoiding breakouts from the trading channels they have been in.

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Stocks opened lower on Monday morning but stabilized by noon ET when they started to drift higher toward the close ending the day with just modest losses. The Dow was down nearly 100-points early but closed down just 27. The leader was the EFA (I-fund) as the dollar made another lower low, and the laggard was the Transportation Index which lost nearly 1% on the day.

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Stocks opened higher on Friday but chopped around quite a bit before a late push higher helped the indices to post strong gains. The Inauguration Day did provide some drama, but nothing the market was overly concerned about. The Dow ended the day with a solid 95-point gain.

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Stocks drifted lower on Thursday with modest losses posted in many indices. The Dow lost 72-points, small caps lagged, and the Dow Transportation Index continues to lead on the upside as it bucked the trend and posted a 0.25% gain.

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Stocks opened lower on Wednesday although it was a mixed bag as the Nasdaq and small caps stayed green most of the day while the Dow lagged and closed down 22-points, off the 87-point early loss. The S&P and Nasdaq closed very strongly and at the highs of the day creating some nice intraday reversals bars on the charts.

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