Nasdaq

A quiet day in the market as expected. The NYSE said that it will be closed on Tuesday in observance of President Ford's death. The Nasdaq, the commodity markets, and the Federal Reserve will also be closed. The bond market is going to be open on Tuesday as the U.S. Treasury proceeds with 3-month and 6-month bill auctions, but it will have an early close.

Notice in the above Nasdaq chart how the bollinger band width (BBW) in the lower panel moves from high to low in a very cyclical manner. Almost every time the BBW gets to a low level, a trending move often follows. Last week the indicator was at a very low level and now appears to be rising as the nasdaq moved a little lower this week. I think the nasdaq will continue to move lower but that remains to be seen.. Things can change bigtime at the start of the year as the volume comes back into this market so let's just take one day at a time.

I'd like to wish everyone a healthy and happy new year and I am grateful for all the people who follow and read this blog..God bless and god bless this country..