TSP Talk Blog

So much for a turnaround Tuesday. The negative reversal on Tuesday had created a fairly negative set up for Wednesday, but the market wanted no part of a pullback and we saw stocks rally solidly from start to finish yesterday, and the big three indices all closed at new highs. The Dow gained a healthy 275-points and the S&P 500 and Nasdaq have now been up for 7 of the last 8 days.

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Stocks opened sharply lower on Thursday morning as the overnight futures and opening bell emotional trading sent the indices reeling early, only to be bought up right away by the dip buyers or trading programs, or both, but the bears were able to put on just enough pressure to keep the indices slightly negative by the close. The Dow lost 128-points and was the laggard, while small caps led, holding onto some modest gains.

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