Yes, Stock Prices Can Fall

Friends

We had a little more action today-unfortunately, it was to the downside. Perhaps fueled by the shocking loss in the Republican Primary that House Majority Leader Eric Cantor suffered, traders seemed in a grouchy mood today. Stocks fell from the start and stayed in negative territory all day long. Yes, volume was light, but this was the first real down day in a while.

By the close, the Dow Jones Industrial Average was down 101 points to finish the day at 16,844. The S&P 500 was down 6 points to close at 1943. Gold was mostly unchanged to trade at $1260 per ounce, while oil was up $.10 to trade at $104.45 per barrel WTI.

Tomorrow we get weekly jobless claims data along with retail sales and business inventories, so traders will have a little to chew on anyway. Let’s see if the bulls can rally the troops or do the bears finally have something going for the first time in weeks? We’ll let you know.

Have a nice evening everyone.

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