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Friday, October 31, 2025

Up, down, all around today as the Dow rose 40 points on very heavy volume. The advance/declines were positive. The summation index is still moving lower. A gap higher to begin with and then a sell off into negative territory only to come back up once again. The NASDAQ led the way and that's a good thing for the bulls. Perhaps yesterdays sell signal only lasted a day again. That has happened before during this years long rally. The short term indicators for the S&P 500 are turning sideways but still in overbought territory. I'm not exactly sure what we have going next here for the market but we'll take the weekend to try and figure things out. Gold was off five bucks on the futures. The US dollar was higher and interest rates finished flat once again. The XAU lost 4 1/8 and GDX shed 7/8. Volume was average. GDX remains short term oversold and hanging around the 50 day moving average. No GDX option trades for now. Mentally I'm feeling tired. The VIX was higher today which doesn't fit with an up market. Still on the short term oversold side of the ledger here. Getting mixed signals from the VIX lately and not sure where it goes from here. Plenty of charts to look at over the weekend. I'll try to come up with something with three weeks to go in the November option cycle. Europe and Asia finished lower with the exception of Japan to close the week. It's Friday afternoon and time for a break.

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