The Dow Industrial Average was up +0.59%. But that was an anomaly as the little grid shows. Nasdaq 100 was actually down a little -0.21%; SPX up a little +0.19% . Dow Transports was flat -0.04%.
The Dow Indu data hides some problematic information. Advances/Declines ratio was 1.9:1, but DecliningVolume/AdvancingVolume was 2.2:1. There was a lot of selling going in in those Decliners.
A similar (but not as marked) inverse relationship occurred in the SPX with Adv/Decl Ratio 1.4:1 while DeclVol/AdvVol was 1.3:1.
The Dow Industrials came in with a Trin higher than 4. Trin is calculated as follows:
(Advances/Declines)/(AdvancingVolume/DecliningVolume).
A figure in excess of One is considered bearish. So the Trin on the Dow Industrials for today was very bearish despite the apparent bullishness inferred from the rise of 0.59%. hmmmm.
Gold in Oz Dollars for the past 24 hours was flat, 0.06%; once again held down by a modestly strong Australian Dollar +0.31%.
I'll put up the summary for the past week later tomorrow, Sunday.
Good luck
Red
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