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After Market Report
Stocks rallied into the afternoon on oil’s retreat. The rallies continue to come on very low volume. The QQQ, for example, rallied to its 200-day average, but on 20% less volume than yesterday’s already lower than average levels. Review the scenarios provided with this yesterday’s report for more details as to what this could mean moving into next week
Gold is having a difficult time getting some legs under it. It broke out over a week ago, but has yet to see any follow through. As long as it continues to consolidate above the 200-day average there is not much we can do but wait it out. If we can get a stronger market trend going there might be some places to move over to that are growing more quickly, but as yet slow and steady is still attractive when comparing the alternatives