Friends
After a four day mad dash higher, stocks took a bit of a breather today, and that’s probably a good thing. We went from an oversold situation to a very overbought condition in five trading days, so a little pause should be refreshing.
It was a mixed bag today and by the close the Dow Jones Industrial Average was up 95 points to finish the day at 36,398. The S&P 500 was down 4 points to close at 4,786. The Nasdaq Composite Index was down 89 points to close at 15,781. Gold was down $2 to trade at $1,806 per ounce, while oil was up $.52 to trade at $76.09 per barrel WTI.
Will Santa keep delivering into the year end? Tax loss selling should be about done by now, so it will be interesting to see how traders want to position going into the New Year. We shall see. Stay tuned.
Have a nice evening everyone
