Daily Wrap
DJIA -129.71 (-0.93%) to 13,880.08; S&P 500 -17.46 (-1.15%) to 1,495.71; NASDAQ -47.93 (-1.51%) to 3,131.17 Today proved to be a very timely pullback as we noted last last week and then this weekend after Friday’s action that we believed a form of a top was in that would provide a longer pullback/consolidation than we have been seeing of late. Today essentially wiped out all of last week gains and it is not surprising after such a strong move down to see the markets up slightly after the close. We will have to see if they can hold or build…
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…