Wednesday, April 12, 2017

Stocks continue Doleful, Doubtful Dance On Unchanged

If anyone was thinking that Monday was a dull day for US markets, then Tuesday had to be considered a suitable capper, but only if one were to be looking only at the closing figures.

The Dow - and other major averages - took a deep dive after the opening bell, falling by as much as 145 points inside of the first two hours of trading.

A reversal took place right off the lows, regaining the green shortly after 1:00 pm ET. After that, stocks spent the rest of the session in a slow churn to close modestly in the red for the day, the only average to finish with gains was the NYSE Composite.

Naturally, this kind of two-day non-event gives even the most skeptical investor absolutely nothing upon which to base any trades, either of the buying or selling variety.

Since the markets have recently nodded off into a semi-somnabulatory state, one can only assume... well, nothing.

While the majority of awakened people in the world probably are hopeful for some kind of stimulation, perhaps it is reassuring that Wall Street finds nothing alarming about anything at this juncture.

On the other hand, it is just these kinds of days and weeks of churning about that usually precede gigantic moves, either to the up-or-downside. Anybody's directional guess is equally good right now.

At the close, Tuesday, April 11, 2017:
Dow: 20,651.30, -6.72 (-0.03%)
NASDAQ: 5,866.77, -14.15 (-0.24%)
S&P 500: 2,353.78, -3.38 (-0.14%)
NYSE Composite: 11,473.62, +9.28 (0.08%)

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