Friends
Traders were very indecisive today, as stocks simply drifted from positive to negative territory all day long. It seemed that no one wanted to step in front of what might occur over the next several days. Remember, we should get some direction as to what Mr. Draghi and the ECB have in store for the Eurozone tomorrow, and on Friday we get the all-important non-farm payroll number. That will lead us into next week’s FOMC meeting, where we’ll see if Dr. Bernanke intends to add some punch to the punch bowl.
By the close, the Dow Jones Industrial Average was up 11 points to finish the day at 13,047. The S&P 500 was down 1.50 points to close at 1403. Gold was down a fraction to close at $1695 per ounce, while oil was up .25 to trade at $95.55 per barrel WTI. The bulls are desperately holding on to Dow 13,000 and 1400 on the S&P 500. It is likely we will be moving in one direction or the other more decisively very soon.
Keep your seatbelt buckled. The next few days should be active.
Have a nice evening everyone.
