Market Commentary: Markets End Day In The -0.90% Plus Range

October 3rd, 2013
in Gary's blogging, market close

Written by

Closing Market Commentary For 10-03-2013

Markets eased up from the lows on a rumor that SOTH Boehner had reached a deal on the debt ceiling, but in the end the averages started to sink again.

By 4 pm markets had eased down to -090+% and will probably will continue the melting down tomorrow morning. Expect more volatility as each day of no resolve in the shutdown progresses.

Follow up:

There is a lot going on out there. First we have the US Government shutdown, then the upcoming debt ceiling clash and let's not forget about Obamacare.

Have Questions On Obamacare? Call 1-800-F U-CKYO

Presented with a stunned level of WTFness... the Obamacare Help-Line - available 24/7 is 1-800-318-2596 as we have been told a number of times by the President...

It seems someone did not do their due diligence on what that telephone number's [mnemonic] is...

1-800-F U-CKYO

Indeed, Mr. President, 1-800-318-2596 to you too.

The DOW at 4:00 is at 14996 down 137 or -0.90%.

The SP500 is at 1679 down 15 or -0.90%.

SPY is at 167.42 down 1.56 or -0.92%.

The $RUT is at 1071 down 12 or -1.08%.

NASDAQ is at 3774 down 41 or -1.07%.

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

How Oil Really Gets Priced

WTI oil is trading between 104.37 and 102.88 today. The session bias is negative and is currently trading down at 102.97.

Brent Crude is trading between 108.69 and 108.58 today. The session bias is bearish and is currently trading down at 108.65.

Gold rose from 1302.29 earlier to 1321.40 and is currently trading down at 1316.80.

Here's why copper has lost its indicator role

Dr. Copper is at 3.272 falling from 3.324 earlier.

The US dollar is trading between 80.00 and 79.72 and is currently trading up at 79.86, 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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