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Tuesday, October 13, 2026

Hanging around today but the Dow fell 180 points on light volume. The advance/declines were positive. The summation index is still trying to turn higher. We got a signal last night from the McClellan oscillator for a big move within the next two trading sessions. We'll see if that happens tomorrow. Probably will with whatever reaction we get to the inflation numbers. The NASDAQ posted a small loss today and the S&P 500 finished basically unchanged. The short term indicators for the S&P remain overbought. The concensus for the inflation data tomorrow is already pretty high so anything below that will most likely be viewed as a positive. But we have no idea where those numbers will be. No SPY option trades here with only three days left in the October cycle. Gold was off a couple bucks on the futures today. The US dollar was lower along with interest rates. The XAU fell 6 1/4 and GDX dropped 1 1/4. Volume was light. Some of the short term indicators on GDX have turned back lower. I did place an open order for the GDX November calls in case we see a sell off tomorrow. Not back to short term oversold on the daily chart here yet but the order won't get filled unless we see additional selling. Mentally I'm feeling OK. The VIX finished little changed on the session. Some of its short term indicators have turned lower. Still not sure what to expect next on the VIX. Although I will say that tomorrow could be an interesting day in the marketplace. Asia was a bit higher with the exception of Japan and Europe was barely lower. We'll see what tomorrow brings.

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