Market Recap for Aug 15 and 16, 2016

Indexes opened in the green and stayed there all day as the turtle like rally continues.   The S&P 500 gained 0.28% and the NASDAQ 0.56%.  TINA (There Is No Alternative) to the right of me, TINA to the left of me….
“It’s a major vacation time between now and Labor day,” said Ernie Cecilia, CIO at Bryn Mawr Trust. “The market right now is floating up on not a lot of news.” “There’s a lack of alternatives into other instruments,” he said, noting that trading volume has been low recently.
“The market should continue to go higher on the no-alternative factor,” said Peter Cardillo, chief market economist at First Standard Financial. “The market is feeding on itself.”
“The market is grinding higher thanks to better-than-expected earnings results during this season as well as due to lack of alternatives, since bond yields are so low,” said Karyn Cavanaugh, senior market strategist at
Read more
http://grafill.us/market-recap-for-aug-15-and-16-2016/
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