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Tuesday, April 02, 2019

It was pretty much a day of running in place although eh Dow did lose 79 points on light volume.  The advance/declines were slightly negative.  The summation index is moving up.  The overall market was much stronger than the Dow as the NASDAQ gained almost 20 points.  As long as the small stocks show leadership we are going higher.  The TRAN and RUT were slightly lower today but it's probably just a breather.  Not a lot of economic news today just some more rumblings of Brexit.  The S&P 500 remains short term overbought but it can stay that way for a while in up trends.  GE was up over 1/8 on light volume.  Gold added a couple bucks on the futures.  The US dollar finished little changed again.  The XAU and GDX had very slight fractional moves up on extremely light volume.  Short term oversold now for the gold shares but I'm in no rush just yet to step in to purchase the GDX calls.  If we just go sideways for the rest of the week I may consider it.  Mentally I'm feeling OK.  I'm still looking for higher prices as we continue on with the week.  There's nothing right now that would change that view.  Waiting on the jobs report Friday.  Volume isn't what it was but we're still trending higher.  As long as we continue to have highs above highs and lows above lows, you can tell what the trend is.  Staying patient for now and hoping for a chance to try the SPY April calls before expiration.  Although I will concede that the easy chance for that has passed.  Europe and Asia were higher but NIKK was flat.  We'll keep an eye on tonights developments.

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