Yesterday we witnessed the Tuesday streak come to end, that was 20 consecutive Tuesdays of gains in the Dow Jones, now that is in the record books. Today we had a 216 point down day and if the Dow closes negative tomorrow- it will be the first 3 consecutive down days in the Dow this year, never in history has the Dow Jones ever gone this deep into a new year with this feat that we have witnessed! I know I will be watching and I would not be surprised either way. No matter what happens tomorrow, the market certainly does not look that good at all. Take a look
What matters most is the job number on Friday morning. Stay tuned and be prepared for the SPIN from the media. Earlier last week I alluded to the Bond market and really have not mentioned them much but I have been watching them everyday very closely. It appears that they have found a base and looks like we may start a move higher. Again Friday will determine the next big move in Bonds, bad number and rates will start to fall and bond prices will head higher, a decent number expect vice versa. Stay tuned but in the meantime take a look at what the bond chart is saying, I see a nice rounding bottom.
Lastly, I would like to mention Gold and Silver, I am not thrilled that Gold could not muster solid gains in the face of plummeting stocks today and I recommend exercising caution tomorrow and going into the job number. I would not be surprised to see $1375 and $22 being tested in the next 36 hours. Be Careful, I do not like the look or performance of Silver especially.
Good Night
Martin
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