A weekend announcement from China’s State Council stating that it would crack down on IP theft sent the market off to a strong start to the Thanksgiving Holiday week. The NASDAQ Composite Index charged 1.33% higher on much higher volume as techs responded smartly to the news. This was followed today by a smaller 0.23% gain on higher volume.
The steady stream of marginally positive “news” on U.S.-China Phase One trade talks has logically weighed on the precious metals. The SPDR Gold Shares (GLD) and the iShares Silver Trust (SLV) both dropped below their prior undercut & rally (U&R) lows at 137.80 and 15.83, respectively, but not by much, yesterday.
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