Friends
It was a very quiet trading session as the bulls might have finally run out of gas. A handful of stocks probably can’t go straight up forever carrying the market averages with them, can they? It would be nice to see some broadening out with sectors other than technology and information systems getting a little support from buyers. It remains to be seen if that will actually happen.
As for today, by the close the Dow Jones Industrial Average was up 15 points to finish the day at 39,150. The S&P 500 was down 8 points to close at 5,464. The Nasdaq Composite Index was down 32 points so close at 17,689. Gold was down $34 to trade at $2,335 per ounce, while oil was down $.64 to trade at $80.65 per barrel WTI.
I would still say the bulls hold the high ground, but perhaps the bears are planning a charge to take that high ground sometime this summer. We’ll see if it ends up like General Pickett’s charge at Gettysburg.
Have a great weekend everyone.
