Daily Market Commentary

Stocks pulled back again on Monday with some light buying into the close to take the indices off their lows. The Dow, down 137 at 3 PM ET, closed down 85-points. We saw some cracks in the charts but the strength into the close helped keep them from breaking down.

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Stocks were mostly lower yesterday but the losses were modest after some afternoon buying. The Dow, down triple digits at one point, ended the day down 54-points. The German market was closed on Monday and the U.S. was sort of on hold until they open to see how the Deutsche Bank drama plays out.

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Stocks rallied back on Friday after a scare from bank stocks on Thursday. But Deutsche Bank's stock, where all eye were watching, jumped 14% on the day after it appeared they will be able to dodge a bullet and remain solvent, although nothing is certain yet. The Dow gained 165-points Friday, although it was up well over 200 with just minutes to go before some late selling before the closing bell.

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Stocks continued their volatile ways as the indices gave back all, and then some, of Wednesday's gains. The Dow lost 196-points and the triple digit moves are becoming more common place making the market a little more vulnerable to a breakdown.

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Stocks waffled the first half of the day on Wednesday but an afternoon rumor regarding OPEC and a reduction oil production sparked a rally in oil related stocks, and program trading kicked in spreading the wealth into other sectors. The oil sector heavy Dow and S&P benefited most with the Dow adding 111-points. The Nasdaq, which had been leading the market, lagged with a small gain, while small caps had a nice day playing some catch up from its lagging day on Tuesday. ...