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More testing ahead for stocks

Not so long ago, November 18 to be precise, I wrote that the rally was still firmly in charge. Right now I’d take out that word “firmly.” I had thought that when the Standard & Poor’s 500 closed above 1110 on November 17 stocks were done consolidating and had...

The short and the long of oil

Same day, November 12. Two different reports. Two different views on oil. First, the U.S. Energy Information Administration: There’s a glut of oil. Domestic crude inventories rose 1.8 million barrels to 338 million barrels in the week ending on November 6. That was...

Stocks pause for another test of the rally

That was fast. Less than two weeks ago investors were worried that stocks would break through support levels and head for new lows. Didn’t happen. On October 30 the Standard & Poor’s 500 stock index hit 1036. That turned out to be the low in a dip that took the...