March 28, 2024

Daily Wrap

DJIA +65.36 (+0.44%) to 15,112.19;S&P 500 +8.68 (+0.54%) to 1,628.93;NASDAQ +31.24 (+0.92%) to 2,959.50 Monday’s action start hot with a gap higher and a rally in the markets which lasted until roughly noon when we started to dip lower and then the decline started gaining some steam into late day trading.  The highs of the day in the S&P 500 correlated with a first touch of the 50 day SMA which would be expected to be resistance.  Today’s high now should become a key level to watch and if taken out the bulls may be back in control. Merger Monday was in affect…