Pageviews past week

Thursday, January 08, 2026

A mixed bag today with the Dow up and NASDAQ down. The most watched index rose 270 points on heavy volume. The advance/declines were better than 2 to 1 positive. The summation index is trying to move up. Just waiting on the jobs report at this point. The S&P 500 finished flat. The short term indicators there are still moving sideways. That should change tomorrow. There are a couple of up trend lines on the S&P that we are looking at. The shorter term one comes in at 6890, while the longer term one is at 6875. If the S&P can drift down to those levels we will be trying the SPY January calls. Running out of time in the January option cycle but that is the game plan at the moment. I may put in an open order for the calls overnight. Gold was up $25 on the futures. The US dollar was higher and interest rates ticked up. The XAU and GDX had fractional gains on light volume. GDX has gotten to short term overbought on some of its indicators. Mentally I'm feeling OK. The VIX finished little changed. Still in a mid-range spot for the short term indicators there. So you could make your case either way. I'm not sure where the VIX goes from here. We'll see the market reaction to the employment report and take it from there. Asia was lower and Europe little changed overnight. We'll close out the first week of January tomorrow.

No comments: