Friends
We finally held on to one today. After days of failed rallies it appeared that a pattern was beginning to develop-up in the morning only to sell off in the afternoon. As you may know, that is a pattern we do not want to see become the norm. Failed rallies are more of a tell-tale sign of a failing market, not a robust healthy one. Nevertheless, today the bulls were finally able to hold onto some nice gains.
By the close, the Dow Jones Industrial Average was up 164 points to finish the day at 17,721. The S&P 500 was up 19 points to close at 2061. God was up $1 to trade at $1,259 per ounce, while oil continued to climb, up $1.60 to trade at $41.96 per barrel WTI.
Earlier this afternoon you should have received our 2nd Quarter Outlook report. As always, we hope you find it helpful. If there is someone that you know that you would like us to add to our email list just let us know and we’ll take care of that for you. In the meantime let’s sit back and watch earnings season unfold. Next up are many of the banks, where expectations are extremely low.
Have a nice evening everyone.
