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It was basically a stalemate on Wall Street yesterday as the bulls and bears battled it out only to close mixed, with some gains, but also near the lows of the day. The Dow gained 91-points while the S&P 500 added 7, but it had been over 30 earlier in the day. Smalls caps also gave back some early gains selling off in the final hour and near the recent closing lows. Yields and the dollar continue to put pressure on the market, and prices in general.

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Stocks ran out of steam after the recent explosive rally off of last week's lows. We saw losses of 1% to almost 3% on the day, depending on the index. A test of the lows after a sell off is not uncommon, although it has been in 2021. It's almost refreshing to see things playing out in a more typical fashion. The question is whether a test of the lows will hold, or if the end of the uptrend is upon us. Bonds were down (yields up sharply), and the dollar rallied, which meant trouble for just ...

Monday was a mixed bag for the stock market indices with the Dow and small caps doing well, while the S&P 500 and the Nasdaq struggled. Higher bond yields are getting some attention and that is what put the pressure on the big tech names yesterday. The Transportation Index had a good day but stalled at resistance. The dollar was up putting pressure on the I-fund, but the price of oil remains strong despite the rally in the dollar, and it closed at its highest level ...

We headed into Friday's open with the futures pointing significantly lower but as soon as that opening bell rang, the dip buyers got busy and did their thing, and the lows were made just after the opening bell. By the close the results were mixed with the Dow and S&P 500 posting minor gains while the Nasdaq, small caps, and the I-fund ended the week on a down note. For the week, only the I-fund couldn't recover from the losses from earlier in the week, and the C and S funds posted weekly gains ...

Economic Calendar


-- Intrepid Timer

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