Off the Charts
Late last week we saw one of the strongest rallies of the year in the S&P 500 stock as they rallied over 4% from Wednesday's low of 1331 to Friday's high of 1389. The market saw a day of digestion today as it was unable to tack onto gains from last week. The S&P and Dow closed the day around flat, while the Nasdaq was slightly weaker as it closed the day down 0.41%.
It was a fairly quiet day in the market as the main focus this week is the Fed decision on Wednesday, followed by the European Central Bank meeting on Thursday, and then the jobs report on Friday. The market rallied at the end of last week on expectations for Fed and ECB action. Will they fire the bazooka when the S&P is less than 3% off yearly highs? Hard to believe they will....804 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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