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Tuesday, June 27, 2006

The Dow lost 120 points today on OK volume. Advance/declines were over 2 to 1 negative. Volume picked up a bit to the downside. Don't know what to make of it. Still waiting on the Fed and then a long weekend. Tuesday is a holiday so Monday will be a non-event. Gold was down over 3 bucks and the XAU lost over 3 points. Volume picked up a bit here on the downside also. No trades in sight. Looks like I'll be waiting for the August cycle unless something just stands out over my vacation. But I doubt it. Mentally I'm doing fine, preparing for some time off. Playing golf this afternoon and it is humid so I will be preparing for the east coast conditions. Otherwise, the trend seems to remain down for stocks. Perhaps the Fed can change that on Thursday. Technically, we're not at overbought or oversold extremes. Summation index still pointing down and in negative territory. Time to sit it out for a while, I guess.

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