UNEVENTFUL
The markets today were uneventful with the NAZ seeing the worst of the selling. The SPX and DIA were basically unchanged and there were slightly more advancing stocks than decliners.
In light of my recent decisions to buy ETF's into the recent market downturn, I am getting a bit nervous since the markets refuse to rally. They also do not go lower either so it appears the bulls and bears are duking it out. The problem with that scenario is that the oversold condition of the market will gradually slip away as the more the market churns, the more the oversold condition disappears.
The VIX has also drifted down signaling that the markets are calmer even though they are not higher.
The winners on the day are the drug/healthcare sectors and the Bonds, while GOOG and AAPL continue to perform miserably along with the NAZ index.
Maybe the home of the whopper will get us some upside jig shortly.
posted by DAVID at
3:56 PM
2 Comments:
Gee, and they say the fast food restaurants don't have any healthy food choices on the menu.
I suppose we're all waiting to see if the bounce is on lighter volume and if it will be sold, eh? Is the election year selloff here or are we going to see another run at the highs...?
I am betting on another run at DJIA highs but I am not willing to lose a whole lot waiting-
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