Markets Flat And lackluster On Low Volume

May 6th, 2013
in Gary's blogging

Midday Market Commentary For 05-06-2013

By noon the averages were starting to melt up to the previous highs on Friday as volume dried up speculating the HFT computers were doing their thing.

News is lacking today and suspect we will not see much action except for the occasional spurts of profit taking and buying.

Follow up:

The DOW at 12:30 is at 14976 up 3 or 0.02%.

The SP500 is at 1617 up 3 or 0.21%.

SPY is at 161.77 up 0.40 or 0.25%.

The $RUT is at 958.66 up 4 or 0.44%.

NASDAQ is at 3391 up 12 or 0.36%.

NASDAQ 100 is at 2954 up 10 or 0.34%. (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 bullish and the current bias is neutral to bullish.

How Oil Really Gets Priced

WTI oil is trading between 96.44 and 94.94 today. The session bias is bullish and is currently trading up at 96.05.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 105.15 and 103.91 this morning. Recently Brent has risen to105.41 The session bias is bullish and is currently trading up at 105.31.

Gold fell from 1478.06 earlier to 1464.21 and is currently trading down at 1466.15.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.309 falling from 3.323 earlier.

The US dollar is trading between 82.04 and 82.47 and is currently trading up at 82.41, the bias is currently bullish.

Interesting video.

The Art of Sitting With Your Arms Crossed

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

Written by Gary

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