| Index | Close | % Change |
|---|
| Dow | 35430.55 | 0.04 |
| Dow Transports | 14816.54 | 0 |
| Dow Utilities | 862.47 | -0.62 |
| S&P 500 | 4550.59 | -0.09 |
| Nasdaq | 14258.49 | -0.16 |
| Nasdaq 100 | 15987.6 | -0.14 |
| Russel 2000 | 1803.25 | 0.58 |
| VIX Index | 13.02 | 2.6 |
| 10 Year Gov't Yield | 4.27 | -1.25 |
| Spot Gold | 2044.59 | 0.18 |
| Spot Silver | 25 | -0.11 |
| GDX-Gold Miners | 31.2 | -0.06 |
| Crude Oil | 77.74 | 1.74 |
| Dollar Index | 102.87 | 0.12 |
| Euro Spot | 1.1 | -0.17 |
| Japanese 10 Year | 0.77 | -2.41 |
| Shanghai SE | 3021.69 | -0.56 |
| Long Bond 20-year | 117.41 | 0.89 |
|
In Memory of SAM
11-29-2023The indices popped overnight, with the S&P almost 1% higher just after the opening. However, by midday the gain had been whittled to just rounding errors. From there the market drifted sideways to lower, finishing not far from unchanged.
Away from stocks, green paper enjoyed a small bounce while fixed income was also green. The metals gained ground overnight, then chopped around in New York, finally ending the day roughly flat. The miners followed a similar pattern. I think if the metals and miners churn around a little bit after their recent rally, that wouldn't be the end of the world.
Weighting It Out
I need to correct one item I mentioned about Milton Berg on Monday. I had forgotten his silver position of 14%. Thus, between the GLD and the GDX, he has 63.5% exposure to the precious metals complex. I'm not saying this to try to convince anybody to change what they're doing. I just wanted to update what I had said to make it accurate. Obviously, he can be wrong, but he wouldn't have built his exposure up like that if he didn't have a big opinion of the technical setup of the market.