Friends
The bulls continue to attempt to push through resistance levels, and you can feel the bears starting to get a little concerned. We’re not, by any means, declaring that the bear market is over, but as stocks creep higher, the fear of missing out could begin to creep into the equation. Today, Bank of America and Goldman Sachs added fuel to the bank stocks parade, with good earnings reports and a good reaction from their shares. So far, the banks are the early stars of the unfolding earnings season.
As for today, stocks stayed in positive territory for the entire trading session (with very little volatility I might add) and by the close the Dow Jones Industrial Average was up 141 points to finish the day at 24,207. The S&P was up 5 points to close at 2,616. Gold was $4 to trade at $1,292 per ounce, while oil was up $.28 to trade at $52.39 per barrel WTI.
Well, the government shutdown continues, but so far stocks have not been effected. The market is at a critical level. It will be interesting to see which way it breaks, and how will earnings influence the next move? It should be an interesting next couple of trading sessions. Stay tuned.
Have a nice evening everyone.
