March 19, 2024

Daily Wrap

DJIA  -2.99 (-0.02%) to 13,245.45; S&P 500  +0.64 (+0.04%) to 1,428.48; NASDAQ  -8.49 (-0.28%) to 3,013.81; Today we started with a gap higher which consolidated in an orderly fashion until just after noon when we had the release of the Fed data.  The market broke to new highs for the day but then started to give back some of the gains around 2 and then steadily trended lower the last hour finally closing just up for the day after spending a few minutes negative.  This would be a classic, buy the rumor and sell the news type action.  Even sometimes…