Markets Close In The Green But Flat On Low Volume

April 22nd, 2013
in Gary's blogging

Closing Market Commentary For 04-22-2013

Markets had a nice long meltup today, mostly on low volume. Unless the news in the morning is especially bad, we should see a continuation of this market runup.

Markets closed in the +0.50% to 1.00% markup with little appreciable aftermarket action. Markets are in a zone of 'anything can happen' so be careful of fake-outs. Small gains in the large caps and larger ones in the small caps, however I would be cautious in reading too much into the tea leaves as such.

Follow up:

The DOW at 4:00 is at 14567 up 20 or 0.14%.

The SP500 is at 1562 up 7 or 0.47%.

SPY is at 156.19 up 0.69 or 0.14%.

The $RUT is at 914.80 up 2.30 or 0.25%.

NASDAQ is at 3233 up 27 or 0.86%.

NASDAQ 100 is at 2810 up 30 or 1.06%. (A lot of analysts are currently watching the 100 for a heads and shoulder formation.)

The longer trend is up, the past months trend is bullish, the past 5 sessions have been bearish and the current bias is up.

How Oil Really Gets Priced

WTI oil is trading between 87.10 and 89.46 today. The session bias is bullish and is currently trading up at 89.31.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 98.30 and 101.02 today. The session bias is bullish and is currently trading up at 100.55.

Gold rose from 1402.95 earlier to 1438.88 and is currently trading up at 1426.16.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.131 rising from 3.083 earlier.

The US dollar is trading between 82.74 and 83.03 and is currently trading down at 82.79, the bias is currently bearish.

** RRR = Risk Reward Ratio

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

Written by Gary

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