The bears were able to set the tone in today’s trading session, after a feeble attempt by the bulls to generate some positive momentum during late morning trading. As the afternoon unfolded stocks continued to slide, as no real catalyst for either side could be found. As the session closed it appeared even the bears had lost interest.
As it was, the Dow Jones Industrial Average was down 67 points to close at 16,351. The S&P 500 was down 9 points to finish the day at 1867. Gold was up $6 to trade at $1347 per ounce, while oil was down $1.39 to trade at $99.73 per barrel WTI.
As we mentioned yesterday, there is not a lot of economic data coming out this week, so trading could turn on any little resistance or support level being challenged. Let’s see if traders can find something to focus on, or at least something that will gain their attention. We’ll let you know.
Have a nice evening everyone.