« Retailers and chip stocks are weak, Thur., August 4, 2005, 1:27 PM | Main | Awaiting the July Jobs Report, Part 2, Thur., August 4, 2005, 8:00 AM »
August 4, 2005
Awaiting the July Jobs Report, Thur., August 4, 2005, 4:36 PM
Today was a strange day in that the market sold down sharply right at the open, and again from 11:30am-12:00pm. So, for a total of one hour out of six-and-a-half, the broad market was collapsing, and the rest of the day, it was holding its own.
I'm not so sure today portends a thing for Friday, when the U.S. Jobs Report is to be released.
As I said on Monday, I think the direction of this market will be known by the end of the week. The bulls have a strong hold one day, and the bears the next.
But tomorrow we ought to know if the July rally has terminated.
Posted by Posted by Bill Cara on August 4, 2005 04:36:25 PM | Category: Cara Today in the Market