The Metals Are In-Play

Dow: +105.94…
Nasdaq: +69.51… S&P: +16.53…

 It was another record-setting day, with the Nasdaq rallying 0.8% to cross the 9000 level for the first time. The S&P and the Dow also closed at new highs, thanks to some mega-cap leadership and a strong finish into the close. The Russell 2000 finished flat. 

Mastercard SpendingPulse confirmed that US retail sales increased by 3.4% this holiday season. That’s a pretty good number and AMZN seems to be coming out of its doldrums.

The miners had another good day. JNUG added 6.0% after yesterday’s big me. This one now has targets of 95 and 105

Silver (SLV) also had a great day and popped out of that wedge that we have been talking about.

The silver miners (SIL) popped and cleared lateral resistance going all the way back to April today.

The junior gold miners GDXJ had another good move and remember that the JNUG moves 3X what GDXJ moves.

Stuff is still moving on light volume. Today the QQQ traded 25% of its normal volume and the SPY traded about 30% of its normal volume. It doesn’t matter, there are no sellers.

See you tomorrow. The volume should be even lighter.

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