Wednesday, August 13, 2025
Continuing higher as the Dow climbed 463 points on heavy volume. The advance/declines were shy of 4 to 1 positive. The summation index has turned back up. The Dow was the leader today and is back to approaching new all time highs. The NASDAQ and S&P 500 set new records today. The S&P 500 is short term overbought on some of its indicators. There is a potential negative RSI divergence on its daily chart though. Only two days to go in the August option cycle. I'll try my best not to do anything stupid here as I've already booked a loss this week. Gold added ten bucks on the futures. The US dollar was lower along with interest rates. The XAU and GDX had slight fractional losses on very light volume. The volume for the gold shares has dried up lately. Not sure what's going on with that. Mentally I'm feeling a bit tired. The VIX is still heading lower. It is short term oversold. As long as it continues to be at these low levels the rally will go on. PPI data due out tomorrow. Asia and Europe were higher overnight as money finds a home in stocks around the world. We'll keep an eye on the overnight developments.
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