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Friday, January 09, 2026

Moving higher as the Dow gained 237 points on heavy volume. The advance/declines were positive. The summation index is moving higher. New all time closing highs for the Dow and S&P 500. Waiting on the NASDAQ but at least it was the leader today. The jobs report had no surprises. The S&P 500 is short term overbought on some of its indicators but not completely. No overhead resistance for the S&P. I did place an overnight order for the SPY January calls again but it wasn't filled and I canceled the order. We've missed this trade and there are only five days left in the January option cycle. Might try the SPY puts near the end of next week if we get a set up. Gold was up $56 on the futures today. The US dollar was higher and interest rates finished mixed. The XAU was higher by 7 1/4, while GDX gained 7/8. Volume here remains on the light side. GDX is still short term overbought. No trades for us there right now. Mentally I'm feeling OK. The VIX was lower today which fits an up market. Some of the short term indicators here are starting to turn back down. The VIX is implying more near term upside for stocks. I'll be going over all the charts this weekend but the odds of a trade for us in the January option cycle appear to be slim at this point. We'll see. Europe and Asia were higher to close out the week with the exception of India. It's Friday afternoon and time for a break.

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