Friends
Stocks continue to slide gently lower, but there really hasn’t been that much damage done to the market averages just yet. Of course, as we continue to point out time and time again, many stocks have sizable pullbacks while others continue to churn higher. Also, we continue to see rotation on almost a daily basis which can be seen as opportunistic if not healthy.
As for today, by the close the Dow Jones Industrial Average was down 151 points to finish the day at 34,879. The S&P 500 was down 20 points to close at 4,493. The Nasdaq Composite Index was down 38 points to close at 15,248. Gold was up $3 to trade at $1,796 per ounce, while oil was down $1.21 to trade at $68.09 per barrel WTI.
It’s been a difficult week for the bulls, but the bears aren’t exactly celebrating just yet. Again, a bit of a reset here in September just might set us up for a good run into year end. Then again, it might not. Let’s see how this shortened trading week finishes out tomorrow.
Have a nice evening everyone.
