Stocks opened sharply lower again on Thursday but we finally saw buyers step up, and we actually saw some green a few times during the day, but by the close the bears pushed the indices into modestly negative territory. The Dow lost 40-points while bonds were down fairly sharply.
Stocks fell sharply on Wednesday as the Dow shed 293-points and this week's "dip" has turned into another outright pullback. The S&P 500 has now gone 26 days without posting back-to-back gains, the longest streak since 1994. So, the choppiness continues.
Stocks tried to put a rally together on Tuesday morning, but the bulls stepped aside and let the bears have another day. The Dow lost 105-points during the light volume sell-off. So, is this just a typical 2+ day pullback in a bull market or are we looking at the start of a pullback that takes the recent gains away?
Stocks were up about 99% of the day yesterday but a late sell-off sent the Dow to a 12-point loss. Nothing disastrous, but those reversals tend to lead to at least a little more short-term downside. Stocks had come a long way in the last week and a half, so a 12-point pullback isn't anything to worry about yet. We see some double tops that usually means a little pause.
With the help from a falling dollar, stocks and almost every other commodity were up on Friday. The Dow gained 169-points, which was actually quite a bit off the highs, while the Nasdaq, small caps, bonds, gold, crude oil, wheat, you name it, were all up on Friday.
S&P 500 (C fund) ||Dow Completion (S fund) ||EFA (I fund) ||Bonds (F fund) |