Tuesday, August 30, 2016

Stocks Give Back On Tuesday After Explosive Market Monday

Following Monday's ramp-alooza based on absolutely nothing other than consumer spending hitting its target, stocks lost ground on Tuesday heading into the Labor Day holiday weekend.

Since this is absolutely the slowest week of the year for everybody except maybe vacation rentals, don't look for any kind of major move in either direction prior to next Tuesday.

A week of nothing, otherwise known as the pain trade. There should be some profit-taking and squaring down on risky positions, but, again, nothing overtly dramatic.

Everything has absolutely flattened out, except possibly the $/Yen pair, back up to 103 on the day.

Tuesday's Trauma:
Dow Jones Industrial Average
18,454.30, -48.69 (-0.26%)

5,222.99, -9.34 (-0.18%)

S&P 500
2,176.12, -4.26 (-0.20%)

NYSE Composite
10,797.10, -14.24 (-0.13%)

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