Mr. Market Taking Day Off, Averages Remain High

July 8th, 2013
in Gary's blogging

Midday Market Commentary For 07-08-2013

Markets trending sideways with a negative slant. Volume remains very low and not conducive to any major swings. Expect market to remain muted until morning financials during this week.

By noon markets looked tired with many investors taking the day off as the averages started to dip downwards.

Follow up:

The DOW at 12:15 is at 15200 up 65 or 0.43%.

The SP500 is at 1638 up 6 or 0.37%.

SPY is at 163.66 up 0.64 or 0.40%.

The $RUT is at 1007.30 up 2 or 0.19%.

NASDAQ is at 3477 up 2 or 0.07%.

NASDAQ 100 is at 2959 up 3 or 0.11%.

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

How Oil Really Gets Priced

WTI oil is trading between 103.98 and 102.14 today. The session bias is positive and is currently trading up at 103.19.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 108.01 and 106.80 today. The session bias is positive and is currently trading up at 107.56.

Gold rose from 1214.51 earlier to 1237.00 and is currently trading up at 1234.75.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.098 rising from 3.058 earlier.

The US dollar is trading between 84.83 and 84.43 and is currently trading down at 84.46, the bias is currently bearish.

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

Written by Gary

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