Daily Wrap
DJIA -36.86 (-0.24%) to 15,521.97;S&P 500 -6.32 (-0.37%) to 1,685.33;NASDAQ -14.02 (-0.39%) to 3,599.14 Today the S&P 500 started with a small gap down that initially tried to rally back to Friday’s close but couldn’t hold and slipped lower until finding a bottom just before noon EST. After gaining some traction the S&P rallied until roughly 2:30 EST before falling again in the last hour of trading but did not make new lows for the day. There was a notable merger in today’s news and while the stocks didn’t move very much, due to the size of the companies it was note worthy…
Daily Wrap
DJIA -80.41 (-0.52%) to 15,307.17; S&P 500 -13.81 (-0.83%) to 1,655.35; NASDAQ -27.32 (-0.90%) to 2,999.13 So the markets can have a substantial day down! Today’s move lower was tied to Mr. Bernanke’s statement to congress as well as the release of the Fed minute which showed the willingness to decrease bond purchases. In the grand scheme today was a solid down day but nothing in comparison to the recent rise. The question is not of today’s move but whether or not it signifies a more significant realization being a top is in. That is a common phrase but my answer is always “for…
Daily Wrap
DJIA -19.12 (-0.12%) to 15,335.28; S&P 500 -1.18 (-0.07%) to 1,666.29; NASDAQ -7.99 (-0.26%) to 3,020.97 Today the market somewhat consolidated after its ramp into options expiration last Friday. Initially it looked as though it could be another strong move higher as early trading was choppy but then we spiked higher into the noon EST time. That spike was eventually lost and we ultimately close near flat on the day. It was interesting to see the Russell 2000 be the strongest index and only one to close higher. Small caps leading might bode well for ultimately higher prices. Tomorrow is Tuesday and interestingly…