March 29, 2024

Week in Review

DJIA  -120.88 (-0.91%) to 13,190.84;  S&P 500 -13.54 (-0.94%) to 1,430.15; NASDAQ -29.38 (-0.96%) to 3021.01; Friday’s action started overnight much much worse than it ended but it was still a big down day.  Main stream media attributed the drop to Boehner’s plan B not only not passing but being pulled even for a vote with the belief there was not enough votes.  While the market closed off the lows seen around noon, it was not resoundingly so and essentially we hovered near the lows all day and closed near the open.  What is interesting and puts some perspective on the days action you will see…

Daily Wrap

DJIA+115.57 (+0.87%) to 13,350.96; S&P 500+16.43 (+1.15%) to 1,446.79; NASDAQ+43.93 (+1.46%) to 3,054.53; Today started with a small move into the 1434 resistance we had noted was above last night but after some quick morning consolidation below, we were off to the races following yesterday’s big gains with another nice day higher today.  Leading the way yesterday was the Financials and while they are not the broad leader again today they followed up nicely on the back of positive comments from Meredith Whitney after yesterday’s close and making the financial talk circuit today.  Specifically she upgraded Bank of America (BAC),…