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The Closing Look

ByGary Kaltbaum
1 Comment

Stock Market Commentary:

The market ended mixed on Wednesday with weakness showing up in the Dow Industrials. The Dow fell on Wednesday as investors digested the latest round of lackluster earnings data and Janet Yellen spent most of the day testifying on Capitol Hill. Disney ($DIS) and Solar City ($SCTY) both fell hard after reporting disappointing results. Janet Yellen spent the day on Capitol Hill and basically said nothing. She said she understands there are threats to the global economy but she did not take more rate hikes off the table. The market remains deeply oversold and the inability to bounce speaks volumes to how weak the intermediate and longer term trend is right now.

Gary’s Thoughts: When the NASDAQ is up 100 points and only finishes up 14…you fill in the blank!

One Comment

  1. Looks like it is fighting to hold 3900, with all the negativity about and it is still holding this support. Looks like a short term support is now in place.

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