Market Commentary: US Markets Are Closed For MLK Day – Oils Falling

January 20th, 2014
in Gary's blogging, Special Post

Written by

Market Commentary For 01-20-2014

Reminder: US equity, option and bond markets are closed today in observance of MLK day.

The oils are falling while the US dollar and gold are quiet.

Follow up:

The WTI chart. Maybe we have seen the end of the fall for the day.

The Brent chart.

Oil futures fall after weak Chinese output data

MADRID (MarketWatch) - Oil futures dropped Monday after a slowdown in Chinese industrial output growth raised concerns about global demand for crude.

February crude oil CLG4 -0.51% fell 67 cents, or 0.7%, to $93.91 a barrel in electronic trading. Prices on Friday rose 41 cents, or 0.4%, to close at $94.37 a barrel on the New York Mercantile Exchange. In observance of the Martin Luther King Jr. holiday, energy futures trading will pause at 1:15 p.m. Eastern Time, and reopen at 6 p.m. Eastern.

"Weak industrial production print from China released this morning is weighing on the crude oil prices, " said ICICI bank's analysts in a note on Monday.

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One of my favorite and respected authors is Jeff Miller. He is always articulate in his comments on the markets and should be considered one of the best informed. In his article below, Jeff looks at the possible Market top and why these calls are important to investors.

Weighing The Week Ahead: More 'Experts' Call The Market Top

Most potential stock investors have been bruised by events over the last decade. They are receptive to a message of fear, and many pundits are happy to satisfy their urges. Calling for a major market turn can be very profitable for the pundit. This is true even if the prediction is very early and the pundit never signals when to shift back.

With the stock market reaching new highs, there is no shortage of those eager to call the top.

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


Written by Gary


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