Morning Averages Take A Breather At Noon On Falling Volume

August 20th, 2013
in Gary's blogging, midday post

Midday Market Commentary For 08-20-2013

By noon, markets have leveled off somewhat leaving the averages slightly in the green. Volume has fallen off to low levels and possible the large caps are turning the corner and are starting to melt downward while the small caps are still pushing upwards, albeit slowly.

The session is far from over and Mr. Market may have a new twist or two before the ending bell sounds. My fellow investors are sitting this session out depending how the closing minutes shape up.

Follow up:

Read this morning.

Meanwhile, Europe Is Collapsing

The DOW at 12:45 is at 15052 up 41 or 0.28%.

The SP500 is at 1656 up 10 or 0.61%.

SPY is at 165.94 up 1.15 or 0.70%.

The $RUT is at 1028 up 15 or 1.49%.

NASDAQ is at 3619 up 30 or 0.85%.

NASDAQ 100 is at 3091 up 21 or 0.69%.

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

How Oil Really Gets Priced

WTI oil is trading between 105.25 and 106.90 today. The session bias is positive and is currently trading up at 106.68.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 108.62 and 110.45 today. The session bias is positive and is currently trading up at 110.14.

Gold rose from 1351.91 earlier to 1376.89 and is currently trading down at 1373.00.

Here's why copper has lost its indicator role

Dr. Copper is at 3.339 rising from 3.303 earlier.

The US dollar is trading between 81.37 and 80.77 and is currently trading down at 80.94, the bias is currently positive.

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

gary@econintersect.com

 

Written by Gary

 









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