SP500 Sets New Record High After Poor Financial's

August 2nd, 2013
in Gary's blogging, market close

Closing Market Commentary For 08-02-2013

Markets closed up but flat and looking like it is on the bubble. TA shows we could go up further, but I would not place a bet on this casino market.

By 4 pm the volume was moderate with enough brave investors to gamble on it melting further upwards in the coming days or weeks. The climb during the afternoon session was steady enough for me to believe it could very well continue tomorrow.

Follow up:

However, things in the casino la la market are not what they seem to be with certain investors, others like the continuing free ice cream.Catch a falling knife? Nah, not a problem!


Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time

When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society.

This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K.

In July we are sad to report that America's conversation to a part-time worker society is not "tapering": according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were... not.

The DOW at 4:00 is at 15568 up 30 or 0.19%.

The SP500 is at 1710 up 2.80 or 0.16%.

SPY is at 170.90 up 0.29 or 0.17%.

The $RUT is at 1060 down 0.02 or -0.00%.

NASDAQ is at 3689 up 13.85 or 0.38%.

NASDAQ 100 is at 3143 up 17.22 or 0.55%.

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


How Oil Really Gets Priced

WTI oil is trading between 108.76 and 106.47 today. The session bias is bearish and is currently trading down at 106.72.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 110.08 and 108.39 today. The session bias is bearish and is currently trading down at 108.84.

Gold rose from 1282.74 earlier to 1317.64 and gaping at 1288.87 as it rose and is currently trading down at 1307.55.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.166 rising from 3.132 earlier.

The US dollar is trading between 82.57 and 81.90 and is currently trading down at 81.99, the bias is currently bearish.

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


Written by Gary

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved