Market Alert - To the Close

Looks as if some bids have returned late after the market hit lows midday and range-traded since. Trying to break from the top of the afternoon range right now, just now a lot of time left to recoup a lot of ground. Some high to low action today in oil stocks as well as a few other sectors, a change from the low to high or high to higher action seen last
week.

SP500 -3.08, -0.14%
NASDAQ -33.96, -0.63
DJ30 28.98, 0.15%
SP400 -0.65%
RUTX -1.17%
SOX -0.81%

We dumped DDS as its action is rather anemic. Letting others in a bit of distress, e.g. VMC, continue working as that stock is at the 50% Fibonacci retracement again and may attempt a double bottom there.

Not picking up any new positions today as letting this 2-day pullback, thus far, on NASDAQ, RUTX, SP400 continue. Also, the high to low action is not the best close after a string of the opposite action.

Not a lot of real news out today for the market. The FBI and CIA are sniping at one another with the FBI saying it requires facts while the CIA deals in suppositions. All of this is relating to the Russian 'interference' with the US elections.



Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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