It was a very quiet day of trading. The bulls seemed a bit tired, and the bears seemed defeated. Interest rates have fallen over the past couple weeks and maybe have found a new level to operate from. Time will tell.
As for today, by the close the Dow Jones Industrial Average was up 1 point to finish the day at 34,947. The S&P 500 was up 5 points to close at 4,514. The Nasdaq Composite Index was up 11 points to close at 14,125. Gold was down $3 to trade at $1,983 per ounce while oil was up $2.85 to trade at $75.75 per barrel WTI.
Next week will be a shortened holiday trading week and as I have mentioned it has often been a week that has been good to the bulls. But, the bulls have already gorged themselves over the past few weeks haven’t they? So it will be interesting to see if there are any buyers left next week. Stay tuned.
Have a great weekend everyone.