Daily Wrap
DJIA -19.12 (-0.12%) to 15,335.28; S&P 500 -1.18 (-0.07%) to 1,666.29; NASDAQ -7.99 (-0.26%) to 3,020.97 Today the market somewhat consolidated after its ramp into options expiration last Friday. Initially it looked as though it could be another strong move higher as early trading was choppy but then we spiked higher into the noon EST time. That spike was eventually lost and we ultimately close near flat on the day. It was interesting to see the Russell 2000 be the strongest index and only one to close higher. Small caps leading might bode well for ultimately higher prices. Tomorrow is Tuesday and interestingly…
Week in Review
DJIA +10.37 (+0.07%) to 14,547.51; S&P 500 +13.64 (+0.88%) to 1,555.25; NASDAQ +38.51 (+1.40%) to 2,780.46 In Thursday night’s recap I noted that the bears were not yet in total control but the bulls needed to get the index moving or there could be a further imminent drop. Friday was able to firm up and take back some control but you wouldn’t know it by watching the Dow which only pressed into positive territory within the last hour of trading. The broader indices were much stronger. Weighing on the Dow were three big names which reported EPS that were not met with great…
Daily Wrap
DJIA -90.24 (-0.62%) to 14,421.49; S&P 500 -12.91 (-0.83%) to 1,545.80; NASDAQ -31.59 (-0.97%) to 3,222.60 Europe ruled the day and after a small initial gap lower and midday rally, the markets then lost ground the remainder of the day sending it back down near Tuesday’s lows. In economic data news we saw the U.S. jobless claims slightly rose but were less than expectations. The data wasn’t enough to really push the markets one way or another and it was back to Europe and underperforming Tech stocks. Most notable tech underperformer was Oracle (ORCL) which closed nearly 10% lower after missing EPS estimates…