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Lackluster Market, Low Volume And Comatose Investors

June 26th, 2013
in Gary's blogging

Midday Market Commentary For 06-26-2013

Not a lot is happening with Mr. Market today. The volume is very low, investor interest is obviously lacking and most likely we will see anther session like yesterday's.

By noon the numbers were less than exciting along with low volume best characterized as lackluster. The HFT computers will probably melt the averages up prior to the closing bell.

Follow up:

The DOW at 12:00 is at 14844 up 85 or 0.57%.

The SP500 is at 1597 up 9 or 0.59%.

SPY is at 159.50 up 1 or 0.58%.

The $RUT is at 962.28 up 1 or 0.10%.

NASDAQ is at 3369 up 21 or 0.62%.

NASDAQ 100 is at 2887 up 21 or 0.73%.

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

How Oil Really Gets Priced

WTI oil is trading between 93.74 and 95.55 today. The session bias is neutral with a negative slant and is currently trading up at 94.78.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 101.63 and 100.27 today. The session bias is neutral and is currently trading up at 101.14.

Gold fell from 1253.76 earlier to 1223.50 and is currently trading up at 1234.15.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.047 rising from 3.019 earlier.

The US dollar is trading between 83.26 and 82.74 and is currently trading down at 83.16, the bias is currently neutral to positive.

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

gary@econintersect.com

Written by Gary









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