Investors Drop Trading Platforms For Beach Balls

August 6th, 2013
in Gary's blogging, midday post

Midday Market Commentary For 08-06-2013

The averages recovered about 1/3 of the morning losses, but volume continues to fall as the afternoon session begins. Chances of a recovery suggested this morning are not like to come to fruition as it appears the Mr. Market is starting his vacation.

By noon the averages were down solid but trading in a narrow range which is expected to last this session. Investors are definitely taking the day off.

Follow up:

It is all about “Free Ice Cream' and greedy banks.

@zerohedge:_______

The Case For Fed Tapering Sooner Rather Than Later

Better to engineer a mini-crisis while you're still in control than let a crisis you can't control run away from you.

One of the most widespread misconceptions about the Federal Reserve is that its policies are based solely on economic data and models.

This misconception is not accidental but the result of carefully managed public relations: The Fed fosters a public image of dispassionate experts working econometric magic that mere mortals (i.e. non-PhDs in Economics) cannot possibly understand.

The reality is the Fed is as much a political and PR machine as it is a financial institution.

The DOW at 12:15 is at 15507 down 104 or -0.67%.

The SP500 is at 1696 down 10 or -0.62%.

SPY is at 169.68 down 1.01 or -0.60%.

The $RUT is at 1052 down 11 or -1.05%.

NASDAQ is at 3665 down 27 or -0.74%.

NASDAQ 100 is at 3122 down 21 or -0.67%.

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

How Oil Really Gets Priced

WTI oil is trading between 107.23 and 105.10 today. The session bias is bearish and is currently trading down at 105.52.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 109.22 and 107.47 today. The session bias is bearish and is currently trading down at 108.14.

Gold fell from 1306.04 earlier to 1278.80 and is currently trading down at 1285.20.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.171 falling from 3.208 earlier.

The US dollar is trading between 82.01 and 81.56 and is currently trading up at 81.72, the bias is currently negative.

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

gary@econintersect.com

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

Blogs

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

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  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 - 2017 Econintersect LLC - all rights reserved