Friday, November 29, 2024
It was the usual post Thanksgiving rally as the Dow rose 188 points on very light volume. The advance/declines were 2 to 1 positive. The summation index is moving higher. The NASDAQ led the way up and that's a plus. We did have a drop in the last five minutes or the numbers would have been even higher. The S&P 500 remains short term overbought. I may try the SPY December puts on Monday. Gold was up $10 on the futures. The US dollar was lower and interest rates dipped. The XAU and GDX had fractional gains on very light volume. No GDX trades for now. Mentally I'm feeling OK. The VIX moved lower and is still short term oversold. Not sure how low the VIX will go here but it is a positive for the market at this point. Europe and Asia were higher with the exception of Japan. We'll check the charts in the next couple of days and take it from there. It's Friday and time for a rest.
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