Thursday, March 15, 2018
A mixed bag today as the Dow was higher and the overall market lower. The most watched index gained 115 points on average volume. The advance/declines were negative. This might turn the summation index into a sideways configuration. Both the S&P 500 and the NASDAQ were lower. No reasons for todays market movement as it appears we are simply drifting into option expiration tomorrow. No trades in mind for now. GE was up a dime and the volume was lighter than we've seen lately. Gold dropped almost $10 on the futures as the US dollar rose. The XAU fell a point while GDX shed 1/4. Volume was light. Mentally I'm feeling OK. Not much else to say about todays price action. The technical picture remains the same with the short term indicators having just rolled over. Getting to short term oversold on one of my indicators though. The VIX has only slightly ticked up here with this weeks lower prices so far. I suppose we'll get through expiration tomorrow and then wait on the Fed next Wednesday. Europe and Asia were generally higher overnight. We'll finish up the trading week tomorrow.
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