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Tuesday, December 26, 2017

The Dow fell 7 points in lackluster trading.  The advance/declines were positive and the volume was extremely light.  The summation index is trying to grind higher.  We're in holiday mode and you can pretty much write this week off.  There's not much economic data coming out and most of the players are away from their desks.  Tread lightly and try to set up your trades for the beginning of the year if you can.  GE was up a nickel and the volume was pretty good.  I'm still trying to get the January calls here.  Gold rose $9 on the futures.  The US dollar finished little changed.  The XAU added 1 2/3, while GDX was up 1/3.  Volume was what passes for average these days.  The gold shares have had a pretty good couple of weeks and have broken above the short term declining tops line.  I'm not sure how long this can last though.  Mentally I'm feeling a bit tired.  Not much else to say about todays price action.  The thin trading puts little meaning into whatever the results end up being.  We'll have another three days of this.  The overbought technical condition of the market persists.  As it has for the past year.  We're overdue for some type of decline but to try and predict when it will occur has been a losing proposition for quite some time.  Asia was mixed and Europe lower overnight.  On to Wednesday.  

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