Hot Air Pushes Markets Up In Early Trading

June 14th, 2012
in Gary's blogging

Opening Market Commentary For 06-14-2012

The markets opened flat to squeaking out a small gain in the opening minutes on low red volume. As the minutes passed the markets in general moved sideways making up and downs in slow motion, but keeping the very small gains of the morning. By 9:59 am absolutely NOTHING has happened of any importance except the US dollar slipped a few cents against the Euro but remains a strong buy according to FoxPros. Then the markets started to rise with moderate green volume as the DaBoyz and the 'dippers' jumped in. If there is any news to coincide with this rise I'll report it, but 10 to 1 it was from some rumor being reported from the EZ.

Follow up:

The DOW is at 12574 up 76.48 or 0.62%.

The 500 is at 1322 up 7.25 or 0.55%.

The $RUT is at 757.75 up 5.37 or 0.71%.

SPY is at 132.90 up 0.86 or 0.66%.

The trend is neutral and the current bias is up.

European markets are down today in the wake of continued negative news coming from the EZ. The FTSE 100 in London is down -0.68% while the German DAX is down -0.55%. The CAC 40 in France is down -0.35%. The Asian markets closed down with the Hang Seng at -1.15%. The Shanghai Composite down -0.99%. The Nikkei down -0.22%.

To contact me with suggestions or deserved praise:

gary@econintersect.com

Written by Gary















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