More Snorefest Action-CMG Failing Nicely

Dow: -13.90…
Nasdaq: -6.47… S&P: -0.66…

More dull action today.  Probably the most interesting development was the pop in gold miners. Not surprising,  just interesting.

Today was the first day in a while that you saw a downtick in the dollar, so the GDX popped. Gold popped too. These areas have been very oversold and there are still decent short positions, so today was a nice move.

Biotech was a little soft today and it just seems to be rudderless at this point as it waits for some kind of catalyst.

New short CMG broke the monotony today by dropping almost 9 bucks.  So far so good.  That bearish head and shoulder pattern continues to evolve.

If you have trouble sleeping, then I would suggest you watch the market tomorrow. It should resolve your issue.

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