And the Survey Says…2011?
The markets continued their push higher today with all the indices up. The DJIA was up 122 points, the SPX was up 16 and the Nasdaq up 42. Some folks are trying to compare this selloff and bottom to that of 2011, but for a wide variety of reasons I don’t think that will play out.
We are at a whole different stage of the game now. And as I discussed weeks ago, some of the indicator readings we got, were not only more severe than 2011, they were as severe as the fall of 2008. Now nothing goes down in a straight line and that is what we are now dealing with. In tonight’s Weekday Market Wrap video I look at the market action and at IBM, FB and AAPL. Continue reading
The markets are still extremely volatile as the DJIA was down over 250 points at one point on Friday but closed up 200. A huge whipsaw day…enough to give anyone indigestion. The market was trying to digest the jobs report that was released Friday morning showing less than expected job growth and downward revisions to July and August.