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Thursday, November 09, 2017

The market tried to sell off today on a delay with the new tax law but did manage to make a comeback.  The Dow fell 101 points on pretty good volume.  The advance/declines were negative.  The summation index is still moving lower.  The Dow was off well over 200 points midway through the session.  It cut that decline in half and then some.  The market shrugs off bad news repeatedly.  The short term technical indicators for the major indices have rolled over.  We'll see if this actually leads to a sustained decline.  GE was off 1/8 on good volume.  Still waiting on a dividend announcement here.  Gold was up a couple backs.  The US dollar was weaker.  The XAU and GDX had slight fractional losses on light volume.  Mentally I'm feeling tired and I am ill with some kind of flu.  So this post will be short.  We'll see if we get any follow trough selling tomorrow.  Europe and Asia were lower overnight with the exception of the Hang Seng.  We'll finish out the week tomorrow.

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