Thursday: Stocks Down Slightly, Bonds Boring, Gold Up
Price chart analysis and commentary
The S&P 500:
The index now has three solid closes above the 50-day moving averages but is unable to close with a new high. The early November gap up remains mostly unfilled. It will be hard to draw any real conclusions about all of this until we get past the holiday season.
The Nasdaq 100:
The -.13% session comes on some of the lightest trading volume of the year. Both of the significant moving averages continue their uptrends.
The iShares 20+ Year U. S. Treasury Bond ETF:
Today’s session kept the price inside the trading range of the previous two sessions and on light volume. The 50-day moving average crossed below the 200-day moving average about two weeks ago: the trend is down as yields rise.
The United States Oil Fund:
The fund likes this area in between the 200-day moving average and the 50-day moving average. One of these days (January?), look for a big move out of this type of price compression.
The SPDR Gold Shares:
The gold shares remain below the 50-day moving average. An up day on light volume is nothing to write home about. The September gap up remains unfilled.
Not investment advice. For educational purposes only.
I write about stocks at Forbes.com.