- US dollar weakened
- Gold and precious metals stocks went strongly up
- US stock indices were very volatile
Let me dig a little bit on today's stock market action.
The table below shows the ultra short-term market action, starting from January 27, 2016. Please, note the yellow area. On January 28 S&P 500 went up but the number of new highs was lower than new lows (minus 41) - as I noticed in my post, it was a very strange occurrence. Then, on January 29, the market went strongly up (from 1893.36 to 1940.18).
Now, look at the greenish area. Today the market went slightly up but the number of new highs was lower than the number of new lows (similarly to January 28). If history repeats, tomorrow S&P 500 should go strongly up.
Well, I do not have the slightest idea where the market is going to go in the short term - there is so much volatility that everything is possible. That is why the best idea today is to stay on the sidelines. It is especially recommended for those encountering cardiac problems.