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In America:

Dow Industrials -0.15%
Dow Transports +0.03%
SP500 +0.11%
Russell 2000 +0.15%
Nasdaq100 -0.07%

Comment: Last night was OpEx Day in America. It ran true to form – a narrow range day with extremely high volume. I always say, just put a bracket around OpEx Day and ignore it. What’s been happening either side of OpEx Day is more important in trying to understand what is going on. We’ll look forward to Monday.

NewHighs/NewLows 118/8. NH>NL. The ratio of NH/(NH+NL) is at 93.7%. This remains in the Do Not Sell Zone above 80%.

Technical Comment on the Dow 30:

The Dow finished at 13232.6. Horizontal support now lies at 13060.
Indicators:
Stochastic: 94.7. Overbought. Caution
RSI.9 is at 72.7. Above 70. Caution.
MACD Histogram. Above zero. Positive.
MACD. Above zero. Positive.
CCI.14: +152. Overbought and turning down Caution.

Not much to say today. OpEx Day is what it is.

The market is, however, at an extremely overbought state. That doesn’t mean it must fall. But some more consolidation would seem likely.

Redbacka