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Wednesday, December 27, 2017

Another lackluster day of trading the Dow rose 28 points on light volume.  The advance/declines were positive.  The summation index is still in an upwards drift.  The same story as yesterday and all the technical conditions remain overbought.  The market is in holiday mode.  GE dropped another nickel on heavy volume.  I'll have to adjust my price for the January options if I want to get filled before the year ends.  My premium price target won't get filled unless were see a decent drop for GE in the next couple of days and I do not anticipate that will happen.  Gold added $4 on the futures as the US dollar was lower.  The XAU and GDX had slight fractional losses on less volume.  Mentally I'm feeling OK.  Not much else to report on todays market activity.  We are at the point of just waiting for the year to end.  I don't expect any big moves in the final two days.  I'll try and get into the GE January call trade before the close on Friday.  But I'm not going to pay more than I want for this idea.  Some of my indicators for the SPY are getting close to a buy signal despite the overall overbought condition of the market.  Perhaps I'll take a closer look there tonight.  Asia was generally higher and Europe mixed last night.  It is slow all around the world this week.  We'll expect more of the same tomorrow.  

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