The Dow sank more than 200 points in the first half hour of trading, but from there took the path of least resistance, to the upside, extending Monday's rally with a little hiccup from some morning indigestion. While the Dow posted a fair gain, the other indices didn't do much, with the NASDAQ and NYSE Composite barely making it above unchanged. The S&P shook out some shorts for a third of a percent win.
Everything else was pretty ugly. Oil posted a minor gain, though there are few in the real world who believe the selloff in crude - as with stocks - is over. Precious metals were slammed close to recent lows and seem to have no ballast, the past three months nothing but a rollover and consolidation with a focus to the negative. The metals can't break to the upside as long as every other asset class is struggling; the current logic dictating that stocks must regain a positive footing and absent that, nothing else matters.
Today's trade was mostly noise. Nothing really moved the meter and it was a little bit of a surprise that stocks rallied as well as they did. Stocks remain week and investors weary. While that's a solid formula for further declines, the day-trading flogs and HFTs have managed to keep stocks from completely folding up their tents. That, and a healthy dose of holiday cheer should keep things stabilized... until they're not.
Dow Jones Industrial Average November Scorecard:
Date | Close | Gain/Loss | Cum. G/L |
11/1/18 | 25,380.74 | +264.98 | +264.98 |
11/2/18 | 25,270.83 | -109.91 | +155.07 |
11/5/18 | 25,461.70 | +190.87 | +345.94 |
11/6/18 | 25,635.01 | +173.31 | +519.25 |
11/7/18 | 26,180.30 | +545.29 | +1064.54 |
11/8/18 | 26,191.22 | +10.92 | +1075.46 |
11/9/18 | 25,989.30 | -201.92 | +873.54 |
11/12/18 | 25,387.18 | -602.12 | +271.42 |
11/13/18 | 25,286.49 | -100.69 | +170.27 |
11/14/18 | 25,080.50 | -205.99 | -35.72 |
11/15/18 | 25,289.27 | +208.77 | +173.05 |
11/16/18 | 25,413.22 | +123.95 | +297.00 |
11/19/18 | 25,017.44 | -395.78 | -98.78 |
11/20/18 | 24,465.64 | -551.80 | -650.58 |
11/21/18 | 24,464.69 | -0.95 | -651.53 |
11/23/18 | 24,285.95 | -178.74 | -830.27 |
11/26/18 | 24,640.24 | +354.29 | -475.98 |
11/27/18 | 24,748.73 | +108.49 | -367.49 |
At the Close, Tuesday, November 27, 2018:
Dow Jones Industrial Average: 24,748.73, +108.49 (+0.44%)
NASDAQ: 7,082.70, +0.85 (+0.01%)
S&P 500: 2,682.20, +8.75 (+0.33%)
NYSE Composite: 12,188.06, +6.46 (+0.05%)
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