Friends
Stocks continue higher as things continue to broaden out. Again, the sleepy ole Dow Jones Industrial Average and small caps are leading the way higher at the moment. We like to see more participation instead of just a handful of big names moving the market averages higher.
By the close, the Dow Jones Industrial Average was up 440 points to finish the day at 44,736. The S&P 500 was up 17 points to close at 5,987. The Nasdaq Composite Index was up 51 points to close at 19,054. Gold was down $83 to trade at $2,628 per ounce, while oil was down $2.16 to trade at $69.08 per barrel WTI.
We continue to believe that the bulls have the wind at their back until the end of the year. Something might come along to disrupt things but at the moment the bulls are firmly entrenched on the high ground. The bears must feel like General Pickett right about now.
Remember, it’s a holiday week so trading might be lighter as we move towards Thanksgiving.
Have a nice evening everyone.
Jim
