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Future Shock

Daily Recap

Following an impressive run of nine consecutive days higher, the Dow sold off today, perhaps underscoring warnings that the US market is overheated.  Various "fear/greed" indicators are warning that stocks are dangerously overbought and due for a correction, no doubt adding to investors' inclination to take profits today.  Worldwide, markets were mostly higher, though the Global Dow closed essentially unchanged on the day.

Oil prices skidded again, taking our energy stocks lower on news of greater US supplies and ongoing brisk production.  Crude oil is back under $45, down more than 2% today alone.  

The day's big winners are the precious metals, regaining about what they lost yesterday, except for the mining shares.  After falling 6 points yesterday, XAU is up 3 1/2 points - not so bad after all.  But gold and platinum are both up about $18, and silver is up 45 cents after getting badly beaten up yesterday.  

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