Markets Open Down Then Reverse Direction

August 19th, 2013
in Gary's blogging, market open

Opening Market Commentary For 08-19-2013

Premarket was relatively quiet with a negative slant, but nothing to suggest opening market direction.

Markets opened down with gaps on most of the major indices on moderate volume and just like that it reversed course. As the markets eased back up covering earlier gaps to ~+0.20%. Volume started to taper off and the averages leveled off and started to melt downward. Way too early in the session to tell if this is going to be a trend.

Follow up:


Interesting article this morning.

When Should You Pay Attention to the Hindenburg Omen?

The DOW at 10:15 is at 15084 up 3 or 0.03%.

The SP500 is at 1658 up 2 or 0.11%.

SPY is at 166.04 up 0.19 or 0.11%.

The $RUT is at 1024 down 0.32 or -0.06%.

NASDAQ is at 3619 up 16 or 0.45%.

NASDAQ 100 is at 3095 up 22 or 0.71%.

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

How Oil Really Gets Priced

WTI oil is trading between 107.82 and 106.32 today. The session bias is sideways and is currently trading down at 107.03.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 109.98 and 110.84 today. The session bias is positive and is currently trading up at 110.75.

Gold fell from 1384.08 earlier to 1363.67 and is currently trading down at 1365.80.

Here's why copper has lost its indicator role

Dr. Copper is at 3.334 falling from 3.372 earlier.

The US dollar is trading between 81.42 and 81.17 and is currently trading down at 81.29, the bias is currently sideways.

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


Written by Gary


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