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Stocks were mixed again yesterday, but only because the invincible small caps refuse to fall. The Transportation Index was also up yesterday, but other than that the Dow, S&P 500, and Nasdaq were down on the day, yet internally there was a lot of strength under the surface. The Dow lost 69-points, and the S&P 500 is actually down for the week, but money seems to go somewhere everyday, as cash is being treated like the plague.

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The dollar rallied and that put some pressure on stocks on Wednesday, although the indices were fairly mixed. The Dow lost 8-points, the Transports and small caps were each down about a half of a percent, while the S&P 500 and Nasdaq both rallied. Bonds (F-fund) rallied off its support line, and the I-fund struggled with the dollar up on the day.

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Stocks were mostly higher on Tuesday after Monday's one day pullback, but there was a sharp dip in the middle of the day that was quickly bought. The Dow, which was both up and down triple digits at different times during the day, closed at +60-points. The S&P 500 was basically flat but small caps jumped again as they continue to lead on the upside. The I-fund was up as the dollar fell, and bonds were down slightly after a successful test of the November lows.

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For the second Monday in a row, stocks lost ground. The losses varied quite a bit with the Dow down a modest 0.29%, small caps were flat, but the Nasdaq lost over 1.2%. Last week, after the Monday sell-off, stocks bounce back during the rest of the week, so this week starts with a similar challenge. The dollar was up again, and that is putting some pressure on stocks and prices in general. Did you see bitcoin yesterday? It went from a high near $43,000 over the weekend, to a low near $31,000,

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We got the December jobs report before the opening bell on Friday and it came in much lighter than estimates, yet stocks opened higher, and closer higher, with a mid-day swoon in between. As we mentioned last week, it doesn't seem to matter if the news is good or bad, the bull are finding a reason to buy. The Dow ended the day with a gain of 57-points. Small caps were up slightly, and it was the S&P 500 and large tech in the Nasdaq that led on the upside.

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