Stock Market Commentary for Tuesday, April 5, 2005

Monday was simply a day of the market struggling to find its feet. Traders and speculators did their darnedest to push the market down in the morning and early afternoon, but it simply popped back up in their faces. Sure, there was a lot of chatter about oil (as if that was any surprise), but there was nothing new that hasn't already been priced into the market many times over.

Nasdaq trading volume was light (1.63 billion shares), and breadth was modestly negative, with 1.19 losers for each gainer. The Nasdaq-100 Tracking Stock (QQQQ) was up by more than Nasdaq itself, suggesting weakness in smaller-cap stocks and relative strength in larger-cap stocks. A gain with negative breadth also suggests greater relative interest in larger cap-stocks.

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-- Jack Krupansky