Daily Market Commentary

A tremendous 4-day rally was capped off on Friday with another 1% to 2% rally in the indices, cutting into the hefty 2022 losses, and getting the bulls excited about the prospect that the correction may be over. The Dow gained 274-points while the Nasdaq and the small caps led. Even bonds had a good day. The Dow Transports didn't participate but they were coming off a monster 3-day rally.

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The market rebound continued on Thursday with more big gains across the board. The Dow gained 418-points and small caps led the way again with a near 2% gain. The price of oil spiked higher making the rally in stocks that much more impressive because crude is back over $100 a barrel. Bonds were up slightly despite another new closing high for the 10-year Treasury yield.

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What a day for the stock market yesterday as we saw a monster morning rally, triggered by big gains in the Chinese stocks markets, fade and eventually turn into losses right after the Fed policy statement. But by the close there was another reversal to the upside and stocks were able to close at the highs of the day. A 519-point gain for Dow paled in comparison to the gains in the broader indices like the S&P, Nasdaq, and small caps. The I-fund also got the benefit of sharp decline in the ...

Stocks opened modestly higher yesterday and initially started to fade as we have seen repeatedly lately. But as the day wore on the bulls took control, and this time the bears stepped aside as we head into today's important Fed policy statement and decision on interest rates. The Dow gained 599-points and we saw gains in the major indices near 2% and up to almost 3%. Yields were up, but surprisingly so was the BND bond fund.

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The bulls jumped on the opening bell with a flurry of buying on Monday morning, but about 90 minutes into the trading day the bears showed up and did what they've been doing for a few months -- they sold the rally. The bulls were nowhere to be found after that as they stepped aside and watched the bears push the indices toward their 2022 lows. The Dow managed to stay slightly positive after giving up a 400 point gain, but once again tech and the small caps took the brunt of the selling and each ...