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Stocks were falling at the open on Thursday, mostly following through on recent losses, but also in sympathy with streaming content leader Netflix, whose 10% loss weighed on the Nasdaq until... the Fed came to the rescue again. The Dow was flat, gaining 3-points, but the broader indices like the S&P 500, Nasdaq, and Small Caps, as well as the Transports, all closed with decent gains.

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Stocks were down moderately on Wednesday and for the first time in a while the major stock indices closed at their lows of the day. The S&P 500 slipped back below that psychological 3000 level once again after 3 closes above it. The Dow gave up 116-points, and the big loser yesterday was the Transports which fell 3.6%.

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Stocks were holding up in early trading, but a late morning decline took over and we saw a little defensiveness for the first time in several days. The Dow turned negative near the close and lost 24-points, and the other major indices were fairly mixed with the S&P 500 and Nasdaq down modestly, the small caps (Russell 2000) were flat, although the S-fund was down slightly, and the Transports rallied big.

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Flat, slow, and tired seems to describe the action on Monday. It was one of the most narrow trading ranges in the last year so perhaps the summer doldrums are kicking in, or it is the calm before the 2nd quarter earnings storm rolls in this week. There was a very late tick higher that moved the Dow up about 27-points, while the S&P moved from negative to positive in the last minute of trading and added a half of a point. Small caps were down as their back and forth ...

Stocks opened higher on Friday and continued to drift upward all day, and into the close, as if no one was willing to sell. The Dow rallied 245-point and the big three indices all made new all-time highs on the day. Even the recently beaten down Dow Transportation Index popped higher after lagging for several days. Can it continue this week while 2nd quarter earnings start coming in?

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