Daily Wrap
DJIA +125.95 (+0.89%) to 14,253.77; S&P 500 +14.59 (+0.96%) to 1,539.79; NASDAQ +42.10 (+1.32%) to 3,224.13 Up up and away the market went today with the Dow closing at record highs. Starting the week I had the expectation that this week would be a consolidation week but then as Monday started, something bothered me. The 4 hour emini S&P 500 chart. It didn’t just look bullish it look destined to head higher. I posted it over at StockTwits (WSConsensus) and again in my nightly recap. The way the markets closed and also started the next day seemed to be confirming the pattern and…
Week in Review
DJIA +35.17 (+0.25%) to 14,089.66; S&P 500 +3.52 (+0.23%) to 1,518.20; NASDAQ +9.55 (+0.30%) to 3,169.74 Friday was an interesting day as we went into the weekend before Sequester (sounds like an SAT word right?) and rumors were abound which helped drive the markets one way or the other. We did finally close with a small gain on the day which continued the markets impressive move off Wednesday’s lows right near the 50 Day SMA’s. We had what I thought was mixed economic data through-out the day which over overall possibly canceled itself out but also continues to show the shaky ground we stand on. That isn’t…
Daily Wrap
DJIA +175.24 (+1.26%) to 14,075.37; S&P 500 +19.05 (+1.27%) to 1,515.99; NASDAQ +32.61 (+1.04%) to 3,162.26 The market followed up yesterday’s moved with a rip your face of rally that took the Dow toward new all time highs. As for what drove the rally, we started to bottom and go after pending home sales data but it is hard to think that really caused the run and we were likely more running do to the technical bounces as many charts moved off their 50 day SMA’s yesterday. Stock of the Day today was Apple Computers (AAPL) but not because of a wild move and more due to the fact…