Friday, March 29, 2019
A nice move higher as the Dow gained 211 points on good volume. The advance/declines were positive. This should turn the summation index around to the upside but not by a lot. The short term indicators for the S&P are turning back up. No guts, no glory as it is probably too late to purchase the SPY April calls. But we'll see. I do think that we are going to head higher for the April option cycle which has three weeks to go. GE gained a dime on light volume. Gold and the US dollar had very slight gains. The XAU and GDX didn't do much today on light volume. I'm still considering the GDX April calls if we hit the up trend line. Mentally I'm pretty tired today and will be cutting the blog short. The 1st quarter is over and it was pretty good for stocks. We'll see how we begin April on Monday. I'm still bullish here for the S&P 500 but the ideal time to purchase the SPY calls may have already passed. Gold didn't follow through to the downside so perhaps if we can just hang around next week, I'll try the GDX April calls as my next trade. I'll have to check all the charts over the weekend and take it from there. Europe and Asia were higher as well, so it seems there is plenty of money to buy going around for now. It's Friday afternoon and time for a rest.
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