A kind of mixed bag, indexes closed more or less unchanged, sector rotation continues. Breadth closed positive on a slight margin: 2223 stocks finished higher compared to 1563 that settled down. Some tech stocks have run up strongly recently and their pattern may looks overextended (i.e. Apple). The picture is still the same: an overbought market that continues to attract fresh money that don’t find any other attractive asset class. The pattern looks very much like the roaring 80’s or mid 90’s. We’ll soon come back with a study on silver that may gain interest from investors this year.

NEXT UPDATE 20th JANUARY 2020