Silent Highs


The week kicked off with a very quiet day of trading. Yes, there was an upward bias and new highs in market averages, but participation was light and volatility was non-existent. It is scheduled to be a somewhat light week for economic data, despite the Fed minutes that we’ll get on Wednesday, so traders may be searching for catalysts. Perhaps tomorrow’s lineup of earnings from noted retailers such as Walmart and Home Depot will spark some interest.

As for today, by the close the Dow Jones Industrial Average was up 26 points to finish the day at 18,298. The S&P 500 was up 6 points to close at 2129. Gold was basically unchanged trading near $1225 per ounce, while oil was up $.09 to trade at $59.78 per barrel WTI.

Perhaps today was a fitting beginning after last week’s fireworks. Let’s see if we settle in to a pattern with less volatility as we enter the summer season.

Have a nice evening everyone.

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