Midday Market Commentary For 08-15-2013
Volume has falling off to very low levels as the HFT computers melt the markets off the morning lows, but remaining in the over minus one percent red zone. Investors are increasingly concerned about the Fed 'taper' program being implemented in September.
By noon there is much investor concern in fears that the markets will continue the down turn in the afternoon session.
The DOW at 12:00 is at 15142 down 195 or -1.27%.
The SP500 is at 1665 down 20 or -1.20%.
SPY is at 166.75 down 1.99 or -1.18%.
The $RUT is at 1033 down 15 or -1.40%.
NASDAQ is at 3620 down 49 or -1.34%.
NASDAQ 100 is at 3087 down 42 or -1.35%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is bearish.
WTI oil is trading between 107.85 and 106.60 today. The session bias is sideways and is currently trading down at 107.52.
Brent crude is trading between 110.03 and 108.97 today. The session bias is mixed and is currently trading down at 109.59.
Gold fell from 1344.28 earlier to 1318.08 and is currently trading up at 1338.40.
Dr. Copper is at 3.327 falling from 3.349 earlier.
The US dollar is trading between 81.46 and 81.99 and is currently trading down at 81.65, the bias is currently negative.
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Written by Gary