Market Commentary: Midday Markets Recovering From Morning Lows

October 14th, 2013
in Gary's blogging, midday post

Written by

Midday Market Commentary For 10-14-2013

Markets continued to improve over this morning opening ~-0.60% fall from Friday, but investors fears are far from over. The President will speak to law makers today at 3 pm and it is possible that the markets will be closed by the time anyone has comments on the meetings progress.

By noon the averages had almost closed the gap left this morning and then turned around to start melting downward somewhat.

Follow up:

Volume is falling off to low levels and markets are mixed awaiting the conclusion of today's meeting with the President.

The DOW at 12:15 is at 15204 down 32 or -0.21%.

The SP500 is at 1699 down 3 or -0.20%.

SPY is at 169.91 down -0.36 or -0.22%.

The $RUT is at 1084 down 0.32 or -0.03%.

NASDAQ is at 3792 up 0.84 or 0.02%.

NASDAQ 100 is at 3236 up 25 or 0.78%.

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

How Oil Really Gets Priced

WTI oil is trading between 102.57 and 101.08 today. The session bias is positive and is currently trading up at 102.47.

Brent Crude is trading between 110.60 and 109.09 today. The session bias is positive and is currently trading up at 110.24.

Gold rose from 168.53 earlier to 1289.79 and is currently trading down at 1279.40.

Here's why copper has lost its indicator role

Dr. Copper is at 3.302 rising from 3.245 earlier.

The US dollar is trading between 80.52 and 80.21 and is currently trading down at 80.28, 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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