Off the Charts

The market opened sharply higher this morning after potential Syria intervention was at least delayed by President Obama over the holiday weekend, but sellers stepped in to close the gap before the S&P bounced to close in the middle of the day's range. The Nasdaq was again the strongest index, finishing up 0.63%, while the S&P and Dow finished up 0.42% and 0.16%. respectively.

The market is in a bit of no-man's land right now. Most macro uptrends remain intact, while there has been some short-term technical weakness as the S&P has lost support of its 50-day moving average. Leading stocks are also generally holding up well. Tomorrow afternoon is the Fed Beige Book, but the main focus this week is on the non-farm payrolls number Friday before the open....469 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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