Nearing the end of the session, the Dow stood almost where it ended the previous day and made all of the losses into the close in the final half hour (welcome to day-trading).
Most of the action was inconsequential, as it has been the past few weeks.
Taking a quick look at the past four weeks (20 sessions) on the Dow Jones Industrial Average, 11 of the 20 saw gains or losses of less than 100 points. For perspective, a move of roughly 125 points would equate to 1/2 percentage. In other words, more than half of the sessions in the past month have been mostly range-bound and more noise than substance.
Today was no exception. Even though the Dow was the biggest percentage mover of the major indices, it only registered a move of -0.18%. The others closed at less than one tenth of a percent from where they started.
So trading? Hardly.
The only people making money in this market are the brokers, and they aren't making that much.
Commodities are perplexed. Crude futures fell dramatically.
Investing.com - WTI crude oil prices settled at six-week lows Wednesday after data showed U.S. crude stockpiles fell less than expected and U.S.-China trade tensions intensified.
On the New York Mercantile Exchange crude futures for September delivery fell 3.2% to settle at $66.94 a barrel, while on London's Intercontinental Exchange, Brent fell 3.26% to trade at $72.22 barrel.
Precious metals have become an afterthought for now. Gold and silver have been trading below where they were two years ago, trending in a tight range and looking likely to collapse into an even deeper abyss. An ounce of gold today will not even purchase a high end cell phone. It's looking pretty dismal for the gold and silver bugs, who have managed to hold onto the most abused financial assets for far too long. Their day may come, but that day may be a long way off.
Trading baseball cards or comic books might be more exciting and profitable than the current regime of stocks, bonds, and commodities. Those markets are too well-known and over-saturated. However, they are the backbone of global commerce, and, as such, will not be discarded lightly.
Dow Jones Industrial Average August Scorecard:
| Date | Close | Gain/Loss | Cum. G/L |
| 8/1/18 | 25,333.82 | -81.37 | -81.37 |
| 8/2/18 | 25,326.16 | -7.66 | -89.03 |
| 8/3/18 | 25,462.58 | +136.42 | +55.05 |
| 8/6/18 | 25,502.18 | +39.60 | +94.65 |
| 8/7/18 | 25,628.91 | +126.73 | +221.38 |
| 8/8/18 | 25,583.75 | -45.16 | +176.22 |
At the Close, Wednesday, August 8, 2018:
Dow Jones Industrial Average: 25,583.75, -45.16 (-0.18%)
NASDAQ: 7,888.33, +4.66 (+0.06%)
S&P 500: 2,857.70, -0.75 (-0.03%)
NYSE Composite: 12,987.91, -11.68 (-0.09%)
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