Morning Market Stir: No Follow-through on Tuesday, Gold Up Big This Morning

In the Morning Market Stir for Wednesday August 6, Alan Knuckman discusses Tuesday’s action in which the S&P closed at 1,913, down 19 points. The VIX did not make new highs while the market made new relative lows. The DJ was down 120 to 16,366, and the NASDAQ lost 25 closing at 3,872. Overall it was roughly a -.9% decline across the board. Dollar strength continued closing at 81.61, Euro weakened more to 133.74. Bonds were steady up only 9 ticks, Crude dropped to 97.40, and Gold fell 4 dollars to 1,285. This morning, the indices are lower with the S&P at 1,905, the Dow at 16,315, and the Nasdaq at 3,846. Crude is up slightly at 97.65 and Gold is making a strong move, up 1.65% at 1306, reclaiming the $1,300 price level. The dollar is at 81.67 and bonds are up to 138.31.