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Wednesday, August 27, 2025

Moving higher on a Wednesday as the Dow gained 147 points on average volume. The advance/declines were positive. The summation index is trying to move higher but does remain in a sideways channel. The McClellan oscillator gave a signal last night for a big move within the next two days. We'll see if that pans out tomorrow. Waiting for NVDA earnings after the bell that the market seems to be fixated on. The Dow led the way higher. Technical conditions here have not changed. The S&P 500 remains short term overbought. My SPY September put order remains out there. Gold added $16 on the futures. The US dollar finished unchanged and interest rates were a bit lower. The XAU and GDX had fractional losses on very light volume. GDX is still short term overbought and overdue for a rest in my opinion. Mentally I'm feeling OK. The VIX was a bit higher today which doesn't fit with an up market. That sometimes leads to selling the next day. The short term indicators there are trying to turn back up and it remains short term oversold. Not sure what to expect next on the VIX. Nothing to do now except wait to see how it goes in the next couple of sessions before a long weekend. We are not going to try and force a trade ahead of the inflation data as I made that mistake a couple of weeks ago. Asia and Europe were generally lower in last nights trade. I'll keep an eye on the overnight developments.

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