Market Recap: Stocks and Lindsay Lohan on the Rebound

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The Reformed Broker, AKA Pine Cone Jones, here with today’s Market Recap…

Much like Lindsay Lohan (from my hometown), who, according to the above eHarmony video, is getting back on the dating scene, stocks rebounded today from yesterday’s bout of profit-taking.

The true battleground today was at 840 on the S&P, which my friend JC tells me is both currently a resistance point and prior to that was a support.  A lot of churning at those levels with a late day peek above.

Leadership today, believe it or not, came from one of the ugliest industries out there, The REIT’s!

Top Performing Industries % Change
REIT – Retail +8.87%
REIT – Office +7.67%
REIT – Industrial +7.32%
Paper & Paper Products +6.66%
REIT – Residential +6.59%

The earnings front is quiet this evening, but tomorrow all eyes will be on Jamie Dimon and Co as JPMorgan (JPM) reports before the open (estimate is .32 cents).

Thanks for reading, see ya mañana.

Full Disclosure: I am currently long JPM for client and personal accounts.  My commentary here is strictly for informational purposes and should not be construed as an invitation to buy or sell any securities.  See my Terms & Conditions page for a full disclaimer.

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