Afternoon Note
After an encouraging open, the indexes slipped into negative territory and are slightly lower at midday. It’s a typical sideways August session with low volume and not much happening. The 3% bounce in oil is about the only noteworthy action. Market internals are solid under it all with NYSE advancers (60%) solidly ahead of decliners (37%) on positive up volume (67%) with 147 new highs.
The dollar is higher against a basket of currencies. Gold is a bit lower and U.S. Treasury’s are mixed.
Let’s not force the issue this afternoon.
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