The Dow Jones Industrial Index was up moderately, +0.5% after getting a bit of a shock from some news about Iran warships travelling via the Suez Canal to Syria. The market said - "Who Cares?" and went right back up to where it was earlier.The Dow Transport Index was up a strong +1.04% and has now shaken off concerns about it tanking while the Industrials continued higher.
The Russell 2000 (+1.02%) outpaced the S&P500 (0.63%), confirming the underlying strength of the market.
The only fly in the ointment was the VIX, went up 2.14%. The VIX tends to trend inversely to the general market and often when it is up when the S&P500 is up, the market is down the next day.
Gold in Ozzie Dollars dropped suggesting that the Gold ETF on the Australian market will give up some of yesterday's gains - and be a positive for our market today.
The historical chart above of returns on the American market is scary from a contrarian point of view. The Americans have doubled in the past 102 weeks, something that hasn't happened since the Depression Era of the 1930's.
The American Market is still in Cloud Cuckoo Land. :)
Good luck
Red
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