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Daily Market Commentary

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  1. Big reversal day

    Stocks showed a lot of spunk on Wednesday as an early 260-point loss in the Dow reversed on a dime in late morning trading and headed up for the rest of the day. The 53-point gain wasn't all that impressive, but it was more than 300-points from the low to the close. It appears that oil was the culprit again.

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  2. Filling gaps and tough resistance

    Stocks played Turnaround Tuesday yesterday as Monday's big gains were nearly completely reversed. The Dow gave up 189-points and many of the major indices lost 1% or more. The losses weren't overwhelming. We simply saw many of the gaps opened on Monday morning get filled. But the issue is where stocks are stalling - right at some major resistance levels, and if they don't bounce back quickly, the bear market rally could be over.

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  3. Bulls making a case


    Stocks opened sharply higher on Monday and maintained solid gains throughout the day. The Dow ended the day with 229-point gain. We saw some breakouts and some near misses. If there's a problem with the action it is that there was very light trading volume, particularly compared to the volume we saw during the selling.

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  4. The bear market will be tested this week

    After a big start last week, stocks were a little tentative for a couple of days to end it. The Dow had rallied 950-points off of the recent lows but it experienced modest losses of 40-points on Thursday and 21-points on Friday, and it may just be a healthy pause while stocks worked off some short-term overbought conditions. Of course the other side of that story could be that we got a bear market rally, and it is now stalling. This looks like an important week for the market. ...
  5. Is the bear market rally over, or just pausing?

    Stocks took a pause on Thursday after the 951-point rally off the lows. The Dow lost 40-points and a modest pullback certainly doesn't seem alarming. There was nothing particularly wrong with the action, but we are in a bear market and unless that is going to change anytime soon, I guess we shouldn't be surprised if we see more bearish action.

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