Monday, December 10, 2018
It was a one day reversal to the upside as the Dow, which was down 500 points, made it all the way back to finish with a gain of 34. The advance/declines were 2 to 1 negative though. Volume remains heavy. The summation index is moving lower. Perhaps today it was short term bottom that was put in but there's no telling in this volatile market. The VIX almost made it to 26. RUT was negative but could be at a short term bottom along with the TRAN. We'll have to see how it plays out from here. GE was off a few cents and closed below 7. I do have an order in to buy the stock at lower levels but it isn't a trade, it will be long term. Gold was off a couple bucks and the US dollar was higher. The XAU and GDX had fractional losses on OK volume. Mentally I'm feeling tired and I have a chest cold so I'm not up to snuff. You cannot make the proper decisions when your health isn't where it's supposed to be. I'm also going to cut the blog short to get some more rest. We saw a comeback in stocks two days ago and then we simply headed right back down. The market is more oversold this time around, so perhaps we can get a few days of rally. Support has broken down though and numerous indices have had their 50 day moving average drop below their 200 day. The back drop for stocks here is negative. Europe and Asia both traded lower last night.
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