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Thursday, November 09, 2023

We finally saw some selling today as the Dow fell 220 points on average volume. The advance/declines were around 3 to 1 negative. The summation index is still moving higher. The NASDAQ led the way lower but it wasn't any sort of rout by any means. The short term indicators for the S&P 500 are starting to roll over. Gold was up $9 on the futures. The US dollar was higher along with interest rates. The XAU and GDX had slight fractional losses on average volume. The gold shares fell back from their best levels on the session. My GDX call postions remain in the red. Mentally I'm feeling tired and that is why the blog is a bit shorter than usual today. The VIX was up today which fits the downside day. The short term indicators here are still oversold. Asia was mixed and Europe higher overnight. We'll close out the trading week tomorrow.

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