Daily Market Commentary

The action on Wednesday was very similar to what we saw on Tuesday; Stocks opened lower, made an intraday low in the afternoon, rallied into the close but still ended the day with modest losses. The Dow ended the day down 53-points, and the slide in oil may have been a big reason. One thing different yesterday was that the small caps and the Transports were also down.

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It was a slow day on Tuesday, with negative overtones as the three major indices, the Dow, S&P 500, and Nasdaq, all closed with losses. On the positive side, stocks closed strongly, well off the lows, and the small caps were flat while the Transportation Index actually picked up a big gain improving that market leader's chart nicely.

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It was a lighter volume, late summer doldrums kind of trading day yesterday after some fireworks late last week. Investors are generally still investing while traders tend to take some time off this part of the year, so we get some dull action and that tends to favor the bulls. That's not always the case as we saw last year so it depends on the situation from year to year.

The Dow gained 108-points and most of the major indices added a half of a percent or more ...

Stocks opened higher on Friday and despite some slightly hawkish comments about potential rate hikes from Janet Yellen in Jackson Hole, Wyoming, it looked like smooth sailing as stocks continued to rally for a few more hours. Then, in an interview with another Fed official whose words were a lot more hawkish, the indices started to move lower in a hurry, and the Dow ended the day with a 53-point loss. It felt worse that it was as the S&P slipped just 0.16% and the Nasdaq actually closed ...

Stocks were mixed Thursday with larger stocks slipping moderately while the small caps posted a modest gain after Wednesday still losses. The Dow lost 33-points and the Nasdaq was down for a second day in a row, for the first time in two-months. Our small caps gained 0.21%.

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