When too many people especially CNBC talk about the first of the month jumper, often times it means the market will do the opposite. The previous six months, the first day of the month saw a positive gain. On the seventh month, they gapped down and closed at the lows.
IWM down 1.99%, QQQQ down 1.61%, SPY down 1.57%, DIA down 1.38%.
NYSE Breadth was 22 down for every 8 up. Only 115 issues closed at 50-day new highs.
Silver via the SLV was the top performing sector up .76 to 33.87. Gold via the GLD was up 2.37 to 140.03.
ETFs related to precious metals AGQ up 8.54 to 194.80, DBS up 1.39 to 60.75, SIVR up .78 to 34.54, GG up 1.54 to 49.35, DBP up 1.81 to 53.34.
& select energy BNO up 2.92 to 77.24, UGA up 1.70 to 48.82, DBE up .73 to 30.69.
Energy was led by MRO up 1.15 to 50.75 but most companies were sold off in the final three hours to match the U.S. averages.
Early in pre-market, AZO reported positive earnings and one of the few stocks up today, up 5.57 to 263.52.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment