Pageviews past week

Wednesday, March 31, 2021

March finished mixed as the Dow fell 85 points on light volume. The advance/declines were positive. The summation index is trying to move sideways. The overall market was stronger than the Dow, with the NASDAQ leading the way. The market was doing pretty good all day until the last hour of trading. Gains were cut in half. Could just be end of quarter manuvering, we'll know more tomorrow. The light volume this week says traders are on spring break. We'll see how the week finishes tomorrow. GE was off around 1/8 on light volume. Gold bounced where it had to for the bulls as the futures rose over twenty bucks and back above the $1700 level. The US dollar was barely lower. Interest rates went back and forth during the session but finished higher. The XAU gained 2 2/3, while GDX added 2/3. Volume was average. My GDX April calls are showing a minor profit. If we see some upside follow through tomorrow this trade might have a chance. Mentally I'm feeling OK. The VIX was lower today and remains below 20. This fits with the overall market but not the Dow. A decent rally would have everything working together. We don't have that going on right now. I'm still looking for the 4000 level on the S&P 500. It remains short term overbought. I think that we'll just look to get through tomorrow to close out the week and then relax during the long holiday weekend. The jobs numbers will be out on Friday when the market is closed and nothing can be done about that until Monday morning. Europe was slightly lower and Asia more so in last nights trading. We'll begin the month of April but finish the week of trading tomorrow.

No comments: