Finally a little sell-off

Not sure if this will continue given the momentum that this multi-month rally has carried, but if there is a pull-back, it will be much needed and will provide profit for the bears and a nice entry point for the bulls that missed the boat the first time around.

Oil and gold had a sideways week, not giving or gaining much over the course of the last 5 trading sessions.

Short update - still need to throw a few new charts and trade ideas up as proof that there are a few solid trading ideas out there even after the rally we have just experienced.

Dow Jones

13,080.73

+34.59

(0.27%)

S&P 500

1,397.11

+4.33

(0.31%)

Nasdaq

3,067.92

+4.60

(0.15%)

reaching a higher ground

Another week, another huge pop early in the week and continuation through the rest of the week makes for another impressive week of gains.  Can anything stop this market?  The VIX sure doesn't think so as it plunges even lower to a solid 14 handle.

In other news, Gold and Silver are down, Oil drifts slightly lower but still remains elevated, even the $USD manages to hang on to its gains over the past few weeks.

The election news continues to occupy mainstream media's attention as the battle of attrition has whittled the list of legit contenders down to essentially two now.

With gas solidly over $4/gallon even at the 'cheap' stations, any economic benefit all this good data presumes has been washed away by the consumer gas "tax" that has been levied on every automobile-driving consumer. 

Let the party roll on!!!

Dow Jones

13,232.62

-20.14

(-0.15%)

S&P 500

1,404.17

+1.57

(0.11%)

Nasdaq

3,055.26

-1.11

(-0.04%)

Up up and away

The SPX is now trading and levels we have not seen since mid-2008 and we all know how well the latter half of 2008 turned out.  Not predicting or forecasting by any means, just know we have had an amazing run since the lows of October and December.

Yet things have not changed, the economic data released is massaged in a way to let us think the economy is recovering yet any real or imagined gain in prosperity due to this economic recovery is quickly swallowed whole by the great gasoline goblin who has come out to play in the $4 a gallon range.  The negative effect of gas prices on gdp is proven, the higher the gas prices, the higher the negative impact on GDP.  If one has to allocate more dollars to the tank, they will have less dollars to devote elsewhere (staples, discretionary, etc).

So the market pushes ever high, the VIX is burgeoning in the high teens which is where it traded during the good old days of 2007 and 2008 when every things was "fine". 

Keep your stops tight and enjoy the run and always have a few shorts in mind for if/when this market ever decides to correct (or at least revert back to the mean).

		Dow Jones 12,977.57 -2.73 (-0.02%)
		S&P 500 1,369.63 -4.46 (-0.32%)
		Nasdaq 2,976.19 -12.78 (-0.43%)