| Index | Close | % Change |
|---|
| Dow | 39475.31 | -0.77 |
| Dow Transports | 16010.98 | 0.06 |
| Dow Utilities | 858.37 | -0.06 |
| S&P 500 | 5234.16 | -0.14 |
| Nasdaq | 16428.82 | 0.16 |
| Nasdaq 100 | 18339.44 | 0.1 |
| Russell 2000 | 2074.08 | -1.17 |
| VIX Index | 13.04 | 0.93 |
| 10 Year Gov't Yield | 4.21 | -1.38 |
| Spot Gold | 2163.88 | -0.8 |
| Spot Silver | 24.67 | -0.29 |
| GDX-Gold Miners | 29.6 | -1.2 |
| Crude Oil | 80.81 | -0.32 |
| Dollar Index | 104.45 | 0.43 |
| Euro Spot | 1.08 | -0.5 |
| Japanese 10 Year | 0.76 | 2.42 |
| Shanghai SE | 3048.03 | -0.95 |
| Long Bond 20-year | 119.88 | 0.74 |
|
Dullness
03-22-2024The indices were not too far from unchanged through midday, though beneath the surface there was a fair amount of motion. There were no huge moves, but smaller-cap stocks, which have done a little bit better lately, seemed to be sort of uniformly weak (not that it matters much in the big picture). In the afternoon, the market was a little bit weaker.
Away from stocks, fixed income bounced, as did green paper, while the metals were weaker, with silver losing a nickel and gold 0.75%. The miners were lower.
What's Up, DOC?
It would appear that the metals complex is going to experience some kind of a correction. Thus, I think the real question is, given the similarity between Wednesday night's action and the maneuver in early December, will we see a fast, deep drawdown or more sideways chop. I have no idea what the answer is, but I do expect that whatever is in front of us won't last all that long.