Friends
It was a very quiet day here in investment land. Volatility was virtually non-existent, while participation was muted. Some doubt about the realization of tax reform is beginning to creep into the equation. The Treasury Secretary is shooting for August and the President says we’ll get to it after the repeal and replace of the “Affordable Care Act”. That doesn’t exactly make me hopeful.
By the close, the Dow Jones Industrial Average was up 34 points to finish the day at 20,810. The S&P 500 was up a fraction to close at 2,363. Gold was up $17 to trade at $1,250 per ounce, while oil was up $.76 to trade at $54.35 per barrel WTI.
After all was said and done, though, the Dow was up for the 10th day in a row. It has been a very orderly move, nice and deliberate, and not giving the signs of a frantic “blow-off” top. Can the bulls keep the upward pressure on the beleaguered bears? Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
