For the second day in a row, stocks had a huge day with Dow adding a whopping 421-points yesterday. Apparently the market isn't all about oil because it was actually down yesterday. The market continues to feed off the dovish statements from the Fed.
Stocks opened higher and rallied in front of the Fed's policy statement, and afterward explode even higher. The Dow gained 288-points and we saw 2% plus gains in many indices. Technically, the charts are not out of the woods yet, but Wednesday's action helped.
Stocks opened sharply higher on Monday morning, but the sellers were right there to resume the selling we saw on Friday. The bears have been absent for many weeks, but they certainly have not shied away over the last week. The Dow ended the day down 100-points after being up over 100 at the open.
Stocks opened lower on Friday and the downside pressure was relentless all day. A late surge lower pushed the Dow down to a 316-points loss by the close. The long awaited pullback is upon us and the question is what will the magnitude of this one be?
S&P 500 (C fund) ||Dow Completion (S fund) ||EFA (I fund) ||Bonds (F fund) |