After yesterdays late day swoon, the market hung on to early gains to close in positive territory. The FED minutes released two hours before the closing bell provided opportunity for a few "wild swings" before stocks decided to close just off session highs. The NASDAQ led the way, even the likes of Zillow closed sharply higher.
Today's Unusual Option Scans and Bullish/Bearish Crossovers:
Stocks looked strong early but lost their luster late. Three of the last four Tuesdays have seen stocks take a tumble.
The Tuesday Tumble. Red Tuesday. Terrible Tuesday. Tell Me About it Wednesday Tuesday. Take The Day Off Tuesday. Whatever you want to call it. It's nothing like a Tuesday in 2013 when the market rallied 20 consecutive Tuesdays. But it is certainly something to keep an eye on, especially with the timing and velocity of the pull backs.
The market has continued to fall in the days following a Terrible Tuesday. Will tomorrow see a continuation of this trend? Or will the market rebound? Some great thoughts on that here:
Where Is The Market Going Tomorrow?
Some additional thoughts and charts:
Stock futures plunged after the Jobs report on Friday.
Today the market realized that bad is again good - It recovered Friday's losses and for good measure proceeded to rally an additional .6%.
It was the second consecutive Monday rally. Last Monday's rally was swiftly negated the following trading session. Will tomorrow see stocks suffer a similar fate?
S&P500 Futures RED Friday and GREEN Monday:
Another Tuesday Trading Session in the books. While the media likes to give an exact reason why the S&P500 and DJIA hit record highs, I'm pretty sure stocks were going to head higher even if Yellen did not speak today.
Courtesy of CNBC.com:
Home Depot blasted to new lifetime highs today after reporting earnings that impressed investors. They also announced an $18 billion share repurchase program.
Tuesday Morning Market Video - $SPY $QQQ $GOOGL $AAPL $FEYE $TWTR $SPG $BXP
You thought a long weekend would put an end to this Greek-standoff stuff? Think again.
Talks between Greece and eurozone finance ministers on Monday night lasted barely two hours, according to some reports. Sticking to his guns, Finance Minister Yanis Varoufakis said his country wants a deal, but with concessions. He also said negotiators don't have "the right to play games with the future of Europe," and that a halfway meeting point may emerge during the next couple of days.
We'll see. Let's just hope he doesn't get his Burberry scarf caught on the door handle before the proverbial car goes off the cliff.
Todays morning market video:
