evening wrap, september 18

market vibes

“It's the friends you can call up at 4 a.m. that matter.” Marlene Dietrich

In a nutshell, stocks went up again, posting another round of record highs for the S&P and NDX. September Dow Futures did make a new all-time high, although I understand from Grok-4 (soon to be Grok-5, after almost 5 minutes of stupid mistakes, errors, and persistent argument, I won and got the facts. The Dow missed an all-time high by about $10.00 is was Grok still wong? You tell me.

There were no other technical developments in stock indexes. The Russell continued its rampage higher.

The dollar index was up again with better range extension on a rally than we’ve seen in a while. There is a very subtle failed auction in weekly data that I’ll return to tomorrow, especially if the DXY closes the week on its highs.

ICE December DXY daily data)

A quick look at a mixed bag of metals inculding gold, silver, and platinum on tap tonight. Plus an interesting angle on China’s appetite for oil, and bitcoin taking a timid, albeit impressive step higher.