There really is not much to say this evening as we look at the trading day on Wednesday. Volume remains low due to the summer vacations the traders must be on but that is nothing new to you. The most important thing for us to focus attention on is that the trading in the next couple of months will not be all that kind to the bulls. Sure, they’ve had their five day rally which doesn’t inspire much buying mostly just complacency because stocks are not “going down” so we don’t have to sell.
Tonight, we just want to get ready for the month of September. Friday brings us the jobs’ report but we also get to see the ISM Manufacturing index and the pending home sales along with the University of Michigan consumer sentiment index. All are capable of moving the market at least by next week. We will keep this to a minimum tonight so you can get back to what you were doing.
Hopefully, next month’s trading will be a little more exciting than we’ve seen this month.
Dow Industrials: 11,382.91 +12.97
QQQQ: 38.91
RYVNX: 21.43
RYAIX: 23.99
RYCWX: 41.48
TLT: 87.87
BEGBX: 13.75
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