Wednesday, November 29, 2017
A really mixed bag today as the Dow was higher but the NASDAQ much lower. The Dow gained 103 points on good volume. The advance/declines were practically even. The S&P 500 was flat. The summation index continues higher. Tech stocks took a hit which explained the NASDAQ loss. The big caps powered forward and are approaching 24000. Overbought once again with no overhead resistance. We'll have to wait and see if the NASDAQ decline is a sign of things to come. Probably not. GE was up a few cents and volume remains pretty solid. Gold dropped about ten bucks today. The US dollar didn't do much. The XAU fell 1 1/2, while GDX shed 3/8. Volume was heavy. It looks like a leg down is beginning for the gold shares. We'll see if there is follow through selling tomorrow. Mentally I'm exhausted from the move of the office. I really need to get some rest tonight for a change. I simply cannot put in the time and effort required to be successful in this game under these conditions. Nobody would be able to. Hopefully things will return to normal next week but there are no guarantees. Asia and Europe were both mixed last night. We'll see what tomorrow brings.
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