The Brains Trust-2019, page-148

It was a very quiet session overnight with not many stand-out features.

Helped by three of its big weightings, the Dow moved ahead but other indices finished mixed with the trading ranges mostly within the parameters set in the previous session. Of the nine sectors on Wall Street, the best two rises were – Utilities and Consumer Staples – the two most defensive sectors of the market. The rally from the bottom took place so quickly that some of my indictors that measure OB/OS are still trying to catch up. Almost as though the market needs more time.

Very few features in commodities as well even though the US dollar was slightly weaker. At the moment it is just hanging in by a thread again in the trading range set over the past few months. Watching the cross rates here very closely. Interesting that the pound is strong again. Markets must think that there is some sort of resolution to the political stand-off in the UK.

Our market was quiet as well yesterday and eased back slightly. Here again it looks as though the indices need time.

Watching all the little miners once more as many of them had such sharp rises and got very overbought very quickly. How they perform now that many of them are correcting is going to tell us a lot about the future of this sector.