8/11/23. Wed. Morning Finspiration Report

 Major U.S. Indices finish on the positive side, but Small Caps pull back.

Dow Jones +0.17%.  SP500 +0.28%.  Nasdaq up strongly +0.9%.  Small Caps -0.69%.  Banks -0.51%.

SP500

I mentioned yesterday the many factors pointing to a pull-back.  Nothing has changed - except some factors have intensified.  Volume has continued to drop off - coming at the top of a trend that indicates a lack of confidence in the trend.  A push by bears would lead to capitulation.

Commodities.

 Commodities Index -2.14%.  Energy -3.62%.  Base Metals flat 0.00%.  Agriculture -1.34%.  Gold -0.41%.

Adter ninety minutes of trading this morning, XJO is up 0.25%.  Information Technology doing best (following the Nasdaq), up +1.62%.  Materials worst -1.61%.