COMMENTARY

After Wednesday’s close Ben Bernanke back pedaled from his taper fantasy. Stocks enjoyed the renewed effort by the Fed Chairman to continue to pump money into the market. Economic data was essentially ignored by the market as the only thing that matters at this point...

It was clear from the start traders were waiting on the FOMC meeting minutes. Volume was running much lower from Friday’s pace. The housing market continues to receive bad news from Mortgage Applications as once again they fell 4% week over week. Higher rates have...

Sloppy action began the day as sellers immediately hit the open. However, just after 10:30 and during the Fed’s open market operations did the market find its footing and reverse course. For the fourth straight day the market saw gains, but volume ended mixed on the...

The market got off to a good start thanks to Europe rebounding after Friday’s dismal performance. For the NASDAQ the high of the day would come shortly after the open and it would fall from there. The Dow fared the best today gaining 59 basis points, but it too was...

Another morning rally turned sour as sellers regain control. The market received positive news as total vehicle sales jumped more than expected. Once again the 50 day proved too much for the S&P 500 and Dow Jones Industrial average. Today’s volume was higher than...

The S&P 500 and Dow Jones Industrial average were both rejected at their respective 50 day moving averages despite better than expected ISM Manufacturing data. At 10 am the market received better than expected manufacturing data helping the market to jump to the...

During the early morning the market was given a dose of economic news coming in mostly inline with expectations. Pending home sales were much better than expected, but the Kansas City Fed manufacturing index contracted coming in well below expectations. Given the...