Bull Trap Opens Markets Then Melts Downwards

September 11th, 2013
in Gary's blogging, market open

Written by

Opening Market Commentary For 09-11-2013

Premarkets were down and continued to melt down in a quiet premarket fashion after light early morning low value 'not so good' financial reports.

Markets opened up much to the surprise to many as pre-orders were filled and then just as quickly the early bird sheeples got fleeced as the market turned and went down to negative values. Generally, the volume was high, spiked with a red selling spree, marking a flat negative market with the DOW jumping to a positive +36 points.

Follow up:

Very volatile, high volume opening where the bulls and bears had a shootout during the first 15 minutes that generally resulted in a slight melting upwards.

By 10 The averages were melting downward in relatively heavy volume with the DOW still trading in a moderate +30 points while everything else sank.

This one indicator, Best Stock Market Indicator Ever: Confirm "Untradeable", is most likely the best advise out there right now.

The DOW at 10:30 is at 15225 up 34 or 0.22%.

The SP500 is at 1679 down 5 or -0.30%.

SPY is at 168.41 down 0.47 or -0.28%.

The $RUT is at 1052 down 4 or -0.38%.

NASDAQ is at 3706 down 23 or -0.63%.

NASDAQ 100 is at 3160 down 26 or -0.80%.

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

How Oil Really Gets Priced

WTI oil is trading between 106.58 and 108.00 today. The session bias is sideways and is currently trading down at 107.54.

Brent Crude is trading between 111.02 and 112.50 today. The session bias is negative and is currently trading down at 111.59.

Gold fell from 1368.19 earlier to 1357.67 and is currently trading down at 1361.40.

Here's why copper has lost its indicator role

Dr. Copper is at 3.270 falling from 3.281 earlier.

The US dollar is trading between 81.94 and 81.58 and is currently trading up at 81.64, the bias is currently positive.

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



Written by Gary


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