Stocks tried to hang in there on Friday but the bears took charge in afternoon trading and the Dow ended the day down 82-points. The charts are starting to look a little questionable, at least in the short-term, so the bulls will have some work to do today to take control back.
I still have a few more days that I will be heavily occupied and I will have to make this quick. I always try to respond to
Stocks again traded in a tight range and we are seeing some shallow dips, but the dip buyers are not far off and the indices bounced back and closed just slightly lower. The Dow lost 10-points on the day, and the modest weakness may have been a result of oil falling below $50 again.
Stocks traded in a tight range again on Wednesday, ending the day flat to slightly higher in most indices. The Dow gained 15-points and the bears will have to wait for another day for the pullback they have been waiting for to buy.
Earnings season is basically behind us, Greece has a 4-month extension on their bailout, and the Fed said interest rate hikes are not likely any time soon, so the question is, what will be the catalyst for stocks going forward?
Stocks opened mostly lower on Tuesday but once again the dip buyers came in, despite oil falling below the pivotal $50 level. Some calming words from Janet Yellen set the market at ease as she put the idea of higher interest further down the road saying the Fed, “will at some point begin considering an increase in the target range for the federal funds rate.”
The Dow gained 92-points and the broader indices saw more modest gains, and in the case
S&P 500 (C fund) ||Dow Completion (S fund) ||EFA (I fund) ||Bonds (F fund) |