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Tuesday, November 11, 2025

A mixed picture today but the Dow had a huge gain of 584 points to close at a record on good volume. The advance/declines were shy of 2 to 1 positive. The summation index is starting to move higher. The NASDAQ posted a small loss and the S&P 500 managed a small gain. The short term indicators for the S&P 500 are moving up. A partial holiday today in the US, so all the players weren't in the game. The governemnt shutdown could end tomorrow but that is probably already baked into the market. Waiting on a signal for the next trade. Possibly could be the SPY November puts next week. Or maybe the calls if we see some selling during this week. I still think that we are heading to new all time highs for the S&P 500 though. Gold was up $14 on the futures. The US dollar was a bit lower and interest rates were unchanged. The XAU was up 3 1/2, while GDX rose almost 2/3. Volume was light. GDX is getting to short term overbought on some of its indicators. I don't have any GDX option trades in mind at the moment. Mentally I'm feeling OK. The VIX was slightly lower and isn't short term oversold yet. Almost back down through the 50 day moving average here. The daily candlestick chart here looks like it wants to go lower. Asia was mixed and Europe higher overnight. I'll keep an eye on tonights headlines.

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