Today the DJIA (DIA) gained 0.6% versus its 1.4% loss on Friday, the S&P 500 (SPY) gained 0.8% versus its 1.8% loss on Friday, and the Nasdaq Composite (QQQQ) gained only 0.5% versus its 2.5% loss on Friday. The gains today did not recoup half of the losses on Friday and the buying pressure today was less than the selling pressure on Friday.

The major indexes had mixed results today as the Nasdaq Composite (QQQQ) led with a 0.6% gain while the S&P 500 (SPY) closed right at 1,300 and the DJIA (DIA) was flat unable to close above the 12,000 level. Participation from investors was ok but underneath the hood market internals are showing signs that the stock market needs a break.

Stocks appeared to be headed for a material down day but were able to regain their footing in uneven trade to finish mostly flat in the session. Investor participation was strong and market breadth was ok. U.S. investors have a speech from the President tonight and some statements from the Federal Reserve tomorrow to digest before making their next moves.

Stocks opened today with nice gains but sold off to finish mixed. Today was January options expiration day which can cause abnormal gyrations in market activity. So far during earnings season many companies are reporting results in line or above expectations. The market appears to be selling on the news in many cases even though earnings and forecasts are meeting Wall Street’s expectations.