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Today's Session Was Exactly Like Yesterday's - Slow

June 26th, 2013
in Gary's blogging

Closing Market Commentary For 06-26-2013

In a straight line from Monday's closing the markets have melted upwards as I suggested they would. Volume has been anemic all session, lower even than yesterday. The $VIX is still elevated, closing at 17.21 having falling all day. The indicators still are bullish but weakening as the SP500 closes in on closing its gap at 1629.

At the close most analysts and financial pundits are keeping whatever predictions they may have close to the chest. I can't blame them for not spouting the future when they have to guess just like I have to do.

Follow up:

I would like to see tomorrow continue to rise up and close the gaps that remain. An orderly continuation of the charts is always welcome in the trading world.

The DOW at 4:00 is at 14910 up 150 or 1.02%.

The SP500 is at 1603 up 15.23 or 0.96%.

SPY is at 159.98 up 1.41 or 0.88%.

The $RUT is at 963.83 up 2.57 or 0.27%.

NASDAQ is at 3376 up 28 or 0.85%.

NASDAQ 100 is at 2894 up 27 or 0.95%.

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 bullish.

How Oil Really Gets Priced

WTI oil is trading between 93.74 and 95.68 today. The session bias is neutral with a positive slant and is currently trading up at 95.44.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 101.89 and 100.27 today. The session bias is positive and is currently trading up at 101.72.

Gold fell from 1253.76 earlier to 1221.36 and is currently trading down at 1225.35.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.043 rising from 3.019 earlier.

The US dollar is trading between 83.27 and 82.74 and is currently trading up at 83.21, the bias is currently positive.

The 500 at the close.

The DOW at the close.

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

gary@econintersect.com

Written by Gary









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