Averages Melt Down On Syrian War Worries

September 3rd, 2013
in Gary's blogging, midday post

Written by

Midday Market Commentary For 09-03-2013

By noon the markets looked tired and weak on low volume. Around 11:15 the averages started to melt down in earnest below the +0.70% mark.

The was a moment or 2 where the bears were about to upset the apple cart with some heavy selling but the BTFDers saved the day - for now anyway.

I wouldn't bet on anything today in this casino market.

Follow up:

The DOW at 12:00 is at 14828 up 18 or 0.12%.

The SP500 is at 1640 up 7 or 0.45%.

SPY is at 164.43 up 0.77 or 0.46%.

The $RUT is at 1017 up 6 or 0.63%.

NASDAQ is at 3615 up 25 or 0.70%.

NASDAQ 100 is at 3094 up 20 or 0.66%.

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

How Oil Really Gets Priced

WTI oil is trading between 106.56 and 108.50 today. The session bias is positive and is currently trading up at 108.16.

Brent Crude is trading between 113.78 and 115.68 today. The session bias is positive and is currently trading up at 115.34.

Gold rose from 1184.31 earlier to 1407.90 and is currently trading up at 1406.30.

Here's why copper has lost its indicator role

Dr. Copper is at 3.305 rising from 3.276 earlier.

The US dollar is trading between 82.27 and 82.61 and is currently trading down at 82.41, the bias is currently bullish.

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



Written by Gary


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