Mixed Close

The major averages were mixed on the day, with the DOW gaining 0.29%, the S&P 500 tacking on a very modest 0.02%, and the Nasdaq falling 0.16%.



The Seven Sentinels remain in an intermediate term sell condition with TRINQ joining TRIN in the sell column. BPCOMPQ turned down a bit, but remains on a buy.

So we didn't see much follow through to the upside today, but we also didn't resume the serious selling pressure that brought about technical warning signals several trading days ago. Keep in mind that it's OPEX week. And that generally means the market holds together, but volatility could come into play.

 

[u.s.dan]

Do you think Federal Reserve meetings Tuesday and Thursday might have an impact on the market this week?

 

[coolhand]

Do you think Federal Reserve meetings Tuesday and Thursday might have an impact on the market this week?

Those meetings always have the potential to create a catalyst that the market might react to, but I'm not expecting this week's minutes to reveal anything significant. Still, you never can be sure.

 

[crommie]

Stress Test results of 19 Banks will be released after the close of Thursday. That could be a catalyst for Friday...up or down...

 

[Shomedamuny]

Stress Test results of 19 Banks will be released after the close of Thursday. That could be a catalyst for Friday...up or down...

I'm guessing any clues in the news as to the direction of foreclosures (rising or falling in number) might be a good clue as to the direction of those reports. Anyone know where to find something like that?