SP500 +0.28%, Dow Industrials +0.51%, Nasdaq +0.14%, Russell 2000 +0.17%, New York Composite +0.43%.
Dow Industrials and NYA were the strongest of the major indices. SPX up only modestly. NAZ and R2K barely budged. Not much action given that Auntie Janet spoke - but the media made plenty of it, as they always do.
Here’s the detailed chart for SP500:
SPX remains in a strong uptrend. Yesterday's comments can be reiterated: "The Index is overbought on the MFI, but it usually needs a negative divergence before the Index falls. It doesn’t have to be that way – but that’s what usually happens. So there’s probably more in this. The chart will tell us when the Index is starting a decline. Look especially for MACD Histogram below zero and a fall by the chart into the darker yellow BBs."
Commodities:
CRB flat +0.13%. Industrial Metals up strongly +1.51%. Spot Iron Ore continues unchanged. It's been at 63.4 now for five days in a row. Energy down modestly -0.37%. GLD flat -0.15%.
Again - yesterday's comments can be reiterated: "I can’t see much happening in our market today. Maybe down a bit. Financials will be the key. They continue to look weak and may be ready to pull our market into a retracement." I thought yesterday we might be down a bit. We finished up a bit. Maybe we'll be down a bit today - but not much in it.
Redbacka.
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