Kept looking for a strong move off that softer open, but today was not the day. After a good move the market takes a breather. Just so happens it is the day after DJ30 20K and thus has many concerned the break was a short-term event. That remains to be seen. For now it looks just like a day off.
Lots of news with Mexico nixing the meeting with Trump, Trump saying a 20% border tax would pay for the wall and more, DB warning of a global economic rollover, UK PM May meeting with Trump, the entire State Department just resigned (a bonus!).
Stocks are not so enthusiastic. Really? Shocking.
Mixed market with DJ30 higher but nothing really enthused. Not buying into anything today and will see if this mushy session post-20K day resumes the upside shortly.
SP500 -1.24, -0.05%
NASDAQ 0.45, 0.01%
DJ30 34.35, 0.17%
SP400 -0.33%
RUTX -0.51%
SOX -0.62%
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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