Market Closes Flat, Small Profit Taking

September 19th, 2012
in Gary's blogging

Closing Market Commentary For 09-19-2012

It appears the HFT crowd is having a good time playing in this low volume session by pushing the averages around. First they melt up then melt down, up again . . . You get the point, humans are not allowed in this trading game today.

Talk about closing flat, today was the day. I wonder what is going to move this market? I have said for weeks that the folks that are in the market have no reason to sell so long as it doesn't go down. There was a small spike of red volume at the end, but that was just about all the excitement for the day.

Follow up:

You know when all hell breaks loose, and it will, it is going to catch a lot of swing and long investors with their pants down. So a word of advise. When the market falls, treat it like a falling piano – let it bounce 3 times before trying to catch it.

The RRR** has been very narrow since the opening bell and any trades will probably end up on the unprofitable side as long as this market has low volume and remains flat. Swing trading is at your own risk and being the market is at a crossroads of sorts, I would prefer to sit on my hands rather than risk guessing incorrectly.

The DOW at 4:00 is at 13577 up 13.32 or 0.10%.

The 500 is at 1461 up 1.73 or 0.12%.

The $RUT is at 856.08 down 0.85 or -0.10%.

SPY is at 146.57 down 0.07 or -0.05%.

The trend is neutral and the current bias is down.

OPEC’s El-Badri says oil market well supplied

WTI oil is at 91.72 trading between 96.10 and 91.25 and the bias is negative.

Gold is down today at 1769.70, trading between 1779.00 and 1762.68 with a neutral bias.

Dr. Copper is at 3.80 down from 3.84 earlier.

The US dollar rose from 79.15 earlier to 79.48 then fell to 79.07 and is currently trading at 79.20.

The 500 at the close.

The DOW at the close.

** RRR = Risk Reward Ratio

To contact me with suggestions or deserved praise:

Written by Gary

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved