| Index | Close | % Change |
|---|
| Dow | 43988.99 | 0.59 |
| Dow Transports | 17353.94 | 0.83 |
| Dow Utilities | 1031.92 | 1.98 |
| S&P 500 | 5995.54 | 0.38 |
| Nasdaq | 19286.78 | 0.09 |
| Nasdaq 100 | 21117.18 | 0.07 |
| Russell 2000 | 2397.23 | 0.61 |
| VIX Index | 14.9 | -1.97 |
| 10 Year Gov't Yield | 4.3 | -0.7 |
| Spot Gold | 2685.32 | -0.79 |
| Spot Silver | 31.26 | -2.38 |
| GDX-Gold Miners | 39.03 | -1.36 |
| Crude Oil | 70.4 | -2.71 |
| Dollar Index | 104.95 | 0.42 |
| Euro Spot | 1.07 | -0.81 |
| Japanese 10 Year | 1.02 | 2.32 |
| Shanghai SE | 3452.3 | -0.53 |
| Long Bond 20-year | 118.09 | 0.85 |
|
Dull End to a Wild Week
11-08-2024The market didn't get too far from unchanged through midday, with the mixed indices. Then in the afternoon, it basically chopped sideways and finished a touch higher.
Away from stocks, fixed income was higher, although mostly at the long end, and green paper strong as well. The metals gave up a big chunk of yesterday's gains, as silver fell 2% and gold 1%, causing the miners to do the same.
Back to Whatever Passes for Normal
The question that folks who are bullish on the metal complex would like to know the answer to is how long this correction is going to last and how deep it will be. Sentiment has moved quite a long way back towards a lack of enthusiasm, even as the positioning in the futures market is still pretty beefy. Unfortunately, it's hard to draw any strong conclusion from this week's actions but hopefully, we will have a better idea by this time next week.