Markets Close Down – Oil, Gold, Indices

April 15th, 2013
in Gary's blogging

Closing Market Commentary For 04-15-2013

Markets closed down some 2% to 3% and that folks is a lot. This could be a simple correction or it could be the canary in the coal mine.

Not much to say at this point as I have said it all along that this casino market is a house of cards that Dr. Ben is gluing together with QE. I am not much of a gambling man, but if you jumped in prior to the close today, you might do well tomorrow. But don't get greedy.

Follow up:

Required reading:


A Couple of Things You Should Know About The Stock Market

The problem with cutting the links between risk and consequence and the real economy and the stock market is that a market deprived of feedback from reality is prone to disorderly disruption.

Why is this so? Participants make decisions based on the information made available to them. If the information from the real world is suppressed or limited, then the decisions made by participants will necessarily be misinformed, i.e. wrong.  If feedback from the real world is suppressed, then decisions will necessarily be bad.

The only choice for participants who have lost faith in central planning's promise of permanently higher markets will be to abandon the manipulated markets entirely.

The DOW at 4:00 is at 14599 down 265 or -1.79%.

The SP500 is at 1552 down 36 or -2.30%.

SPY is at 155.12 down 3.70 or -2.33%.

The $RUT is at 907.20 down 36 or -3.78%. (need to watch the small caps)

NASDAQ is at 3216 down 78 or -2.38%.

NASDAQ 100 is at 2797 down 59 or -2.07%. (A lot of analysts are currently watching the 100.)

The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish with a negative slant lately and the current bias is down.

How Oil Really Gets Priced

WTI oil is trading between 91.12 and 87.85 today. The session bias is bearish and is currently trading down at 88.32.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 101.29 and 99.68 today. The session bias is bearish and is currently trading down at 100.09.


All Eyes On The Gold Rout, Most Oversold In 14 Years

What Happened The Last Time We Saw Gold Drop Like This?

Gold fell from 1487.86 earlier to 1348.50 and is currently trading down at 1356.71.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.28 falling from 3.36 earlier.

The US dollar is trading between 82.54 and 82.14 and is currently trading down at 82.47, the bias is currently bearish.

The 500 at the close.

The DOW at the close.

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

Written by Gary

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