Friday, October 03, 2025
A mixed bag to end the week but the Dow managed a gain of 238 points on heavy volume. The advance/declines were positive. The summation index is beginning to stall. The NASDAQ posted a small loss, while the S&P 500 finished basically unchanged. The S&P remains short term overbought. I'm leaving my open order for the SPY October puts out there but might adjust it over the weekend. Still on a sell signal for one of our indicators that we like but it can be early at times. But not more than a couple of days. We will most likely try and buy the puts on Monday barring a huge rally. Gold was up $44 on the futures to a new all time high and also crossed the $3900 level. The US dollar was a bit lower and interest rates were higher. The XAU was up 3/4 and GDX finished flat. Volume was light. Gold up and the gold shares really didn't follow. That is not a plus for the bulls. GDX remains short term overbought as it has been for weeks. Will gold reach $4000 next week? Mentally I'm feeling OK. The VIX finished little changed. The short term indicators are trending higher but not yet overbought. I'm still not sure where the VIX is headed next. Another positive week for stocks as the rally seemingly has nothing to derail it. Plenty of money still to go around. It will end at some point but we certainly don't know what the catalyst will be. Two weeks left in the October option cycle. I'll be checking the charts over the weekend as usual. Europe and Asia finished Friday on the plus side except for the Hang Seng and the DAX. It's Friday afternoon and time for a break.
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