Market Commentary: Markets Open Up and Move Sideways On Light Volume

October 25th, 2013
in Gary's blogging, market open

Written by

Opening Market Commentary For 10-25-2013

Premarkets were down -0.05% (flat) and slowly melted up to where they opened up at +0.20%. News is being discounted somewhat at the US Durable Goods rose 3.7% in September but while excluding transportation it fell -0.1%.

At 10 am the University of Michigan Confidence missed the street view of 75.0 coming in at 73.2. The markets did react positively, but with in 10 minutes slid back down to where it was on relatively light volume.

Follow up:

All in all the numbers were not very good but the markets melt up.

The first column is today reporting and the second column is what was expected by economists. The third column is the the last report.

The markets short indicators are 50-50 for this morning and melt into 'sell' as the time period moves out. The market is untradable.

The DOW at 10:15 is at 15538 up 28 or 0.19%.

The SP500 is at 1755 up 3 or 0.19%.

SPY is at 175.51 up 0.35 or 0.18%.

The $RUT is at 1120 up 1 or 0.09%.

NASDAQ is at 3952 up 23 or 0.60%.

NASDAQ 100 is at 3391 up 28 or 0.84%.

The longer trend is up, the past months trend is bullish, the past 5 sessions have been positive and the current bias is mixed with a positive slant.

How Oil Really Gets Priced

WTI oil is trading between 96.95 and 97.86 today. The session bias is positive and is currently trading up at 97.94.

Brent Crude is trading between 106.42 and 107.39 today. The session bias is mixed with a negative slant and is currently trading up at 106.98.

Gold rose from 1336.58 earlier to 1348.32 and is currently trading up at 1347.00.

Here's why copper has lost its indicator role

Dr. Copper is at 3.246 falling from 3.269 earlier.

The US dollar is trading between 79.06 and 79.38 and is currently trading down at 79.26, the bias is currently negative.

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


Written by Gary


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved