Tuesday, November 24, 2015
A one day reversal to the upside as the Dow opened lower and finished higher. The most watched index ended the session with a gain of 19 points on good volume. We were off over 100 points early on. I don't know the cause of todays volatility and certainly did not expect it. The summation index is trying to move higher but has not picked up any steam. I really think it will be slow for the rest of the week, with a day off for Thanksgiving and a shortened Friday trading day. GE was up a few cents and the volume remains very heavy. Plenty of interest here. Gold was up a buck or so on the futures as the US dollar was lower. The XAU was up 1 3/4, while GDX gained 1/2. Volume was average. Mentally I'm feeling a bit tired as my usual schedule was thrown off today due to early meetings. I'm still in the bullish camp here and sideways wouldn't be a bad thing as well. I expect that we will move higher in the beginning of December. The short term technicals for the major indices tired to roll over today but turned back around. Perhaps we'll see some holiday light volume rise in the next couple of days. That's a guess as usual. Not much else to report. The foreign markets were mixed last night with most of Europe lower. We'll see what happens tonight.