Daily Market Commentary

Stocks were very choppy on Friday as the indices flirted with overhead resistance making the closing prices a possible a sign of things to come. Perhaps that's making more of the technical situation that it is, but you'll see in the charts below what I am talking about. The Dow gained 153-points and the S&P 500 was up 0.51%, and all of those gains came in the final 30 minutes or so of trading as both were in negative territory just before that late rally. Small caps and the I-fund also rallied ...

The volatility continued and the choppy action that we were expecting after the recent rally has been playing out. That hasn't been good news this year as they have mostly led to lower prices, but will it be different this time? The gains were impressive yesterday with the Dow gaining 349-points, and large cap tech stocks leading the way, assisted by a pullback in the price of oil. Bonds were down.

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Stocks pulled back on Wednesday as they digest the recent gains. I don't think the action told us much because some consolidation after a week long rally is normal, but it could also give bears the opening they've been waiting for to sell a bear market rally - it's tough to say after one down day. The Dow lost 449-points while small caps lagged. Bonds rallied after a sharp 2-day decline. Oil rallied higher.

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Stocks bounced right back from Monday's hiccup, and the rally off the recent lows resumed. The Dow gained 254-points but the indices closed very close to the opening bell highs, so they didn't make much headway after that opening rally. The recent investor sentiment, where investors quickly sold rallies, may be waning, but the stocks charts are not quite out of the woods yet. Bonds continue to struggle as the yield on the 10-year made another new high, and the 2/10 yield curve gets closer to ...

Stocks were lower on Monday but it wasn't all bad as we saw some buying in the final hour of trading to take the indices well off the earlier lows of the day. That final hour tends to be considered more of the "smart money" activity, but yesterday it could have also been some follow up positive momentum after last week's big rally. The Dow lost 202-points on the day with Boeing being drag on the index after the horrific plane crash in China. Bonds were down as yields and the price of ...