Yesterday’s Action From the trading desk of Canslim.net>Tuesday the Dow Jones Industrial Average lost 4.94 points or 0.05% closing at 10,386.37 while the bellwether S&P 500 decreased 0.81 points or 0.07% ending the session at 1,164.08. The New York Stock Exchange volume total increased 7% from the prior session to 1.45 billion shares as big board advancers outpaced decliners 1,908 to 1,360 and there were 232 new 52-week highs and 7 new lows. The Nasdaq Composite gained 4.08 or 0.20% closing at 2,043.33 and the Nasdaq exchange's volume increased 5% to 1.69 billion shares. On Nasdaq advancers outpaced decliners 1,711 to 1,383 with 150 new 52-week highs and 26 new lows. The markets were confined to a fairly tight trading range today with the major indices showing brief gains in the morning, then slumping into negative territory near noon, then rallying again in the afternoon only to ultimately end the session mixed and relatively close to the unchanged mark. Another important event working in favor of investors behind the scenes today was that crude oil fell another -$1.72, closing at $47.37 per barrel. Now that we have gotten past the election jitters and last week's employment report, investors are anxiously awaiting the outcome of tomorrow's Federal Reserve meeting. The consensus is that the Fed will raise interest rates by 25 basis points while still keeping rates near historically low levels.
