Friends
Stocks continue to struggle as we’ve seen a pattern of early morning rallies dissipate by midday. I guess the bulls could take a little comfort in the fact that selling has not been prodigious, but there has been little interest on the buy side for a couple of weeks now.
As for today, by the close the Dow Jones Industrial Average was down 45 points to finish the day at 37,753. The S&P 500 was down 29 points to close at 5,022. The Nasdaq Composite Index was down 181 points to close at 15,683. Gold was down $19 to trade at $2,388 per ounce, while oil was down $2.65 to trade at $82.71 per barrel WTI.
The best news for the bulls might be that I leave on vacation tomorrow. Recent vacations have produced some nice rallies over the past couple of years so let’s hope that pattern continues. I’ll check in periodically from the road when I get a moment, but you’ll be in good hands with the rest of the CHJ gang.
Have a nice evening everyone.
Jim
