Wednesday Market Wrap



For the day the SPX/DOW were -0.10%, and the NDX/NAZ were -0.45%. Bonds lost 9 ticks, Crude was flat, Gold rose $3, and the USD was lower.

The market gapped down, then took out Mondays low at around  10:25 am. , but then managed to rally about 17 handles.  Monday’s closing low (1739) is still the area I think we need to watch for support.

The market is following last weeks lead to a tee so far. Down Monday , up Tuesday and down today. This has become an epic downward leaning chopfest with some fits and starts, but buyers really haven’t been rewarded yet.

TWTR reported and was a complete disgrace after the market closed. Down about 18%.

This market is still a battle. Patience will pay.

See you in the morning.


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