Wednesday, September 12, 2018

Nothing Good Happens After Noon?

A peek at Tuesday's charts - post-closing-bell - reveals that US markets rose relentlessly in the morning, but then leveled off at noon and traded basically unchanged from there the rest of the day.

Not that it's unusual to see a pattern like that - though it actually is - but nothing really surprises anybody anymore, especially since the computer algorithms have thoroughly distorted normal trading patterns.

Apparently, everybody was happy with the returns at noon, and kept them. All afternoon was just churning, and that's no good.

There's fake news, so why not fake markets?

Tuesday's action was very unconvincing. Expect some kind of sell-off Wednesday.\

Before noon, of course.

Dow Jones Industrial Average September Scorecard:

Date Close Gain/Loss Cum. G/L
9/4/18 25,952.48 -12.34 -12.34
9/5/18 25,974.99 +22.51 +10.17
9/6/18 25,995.87 +20.88 +31.05
9/7/18 25,916.54 -79.33 -48.28
9/10/18 25,857.07 -59.47 -107.75
9/11/18 25,971.06 +113.99 +6.24

At the Close, Tuesday, September 11, 2018:
Dow Jones Industrial Average: 25,971.06, +113.99 (+0.44%)
NASDAQ: 7,972.47, +48.31 (+0.61%)
S&P 500: 2,887.89, +10.76 (+0.37%)
NYSE Composite: 12,952.30, +23.63 (+0.18%)

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