Market Commentary: Markets Close In The Red, Flat And Lackluster

June 3rd, 2014
in Gary's blogging, market close

Written by

Closing Market Commentary For 06-03-2014

Large caps tested yesterday's closing numbers and failed, for today anyway. So the closing numbers are off the morning lows, but just below the closing numbers of yesterday. The $RUT was the one major averages that showed losses of a quarter point, the others ended up flat, lackluster and on low volume.

By 4 pm investors were STILL scratching their heads and traders were not trading because they can't sell what they buy, besides good profit margins remain elusive. There is a plethora of financial reporting tomorrow morning which could swing the markets either way.

Follow up:

Mr. Aniston recently wrote, his valued opinion on luck and skill and in today's market casino, it is mostly luck.

Stephen Aniston

I think the US is in a mild recession triggered by mild resurgence of inflation. The economy is far weaker than advertised and for some reason the market is ignoring it. It doesn't make sense. There is a difference between luck and skill. Those who are riding the market higher now are simply lucky. Eventually luck runs out ;)

The short term indicators are leaning towards the hold side at the close. The all important signs of reversal, up or down, have not been observed so we are mostly, at best, neutral and conservatively holding. The important DMA's, volume and a host of other studies have not turned and that is not enough for me to start shorting. The SP500 MACD has turned up, but remains above zero at 13.46. I would advise caution in taking any position during this volatile transition period although shows a 16 % sell. (down from 24% sell this morning) members' sentiments are 68 % bearish.

If you would like to get advanced buy/sell tweets, sign-up in the column to the right of this post by clicking on the 'Follow' button. Write me with suggestions and I promise not to bite.

The DOW at 4:00 is at 16722 down 21 or -0.13%.

The SP500 is at 1924 down 0.73 or -0.04%.

SPY is at 192.80 down 0.10 or -0.05%.

The $RUT is at 1126 down 2.75 or -0.24%.

NASDAQ is at 4234 down 3 or -0.07%.

NASDAQ 100 is at 3730 down 3 or -0.08%.

$VIX 'Fear Index' is at 11.79 up 0.21 or 1.81%. Neutral Movement

(Follow Real Time Market Averages at end of this article)

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

How Oil Really Gets Priced

WTI oil is trading between 102.83 (resistance) and 102.23 (support) today. The session bias is positive, volatile and is currently trading down at 102.83.

Brent Crude is trading between 108.99 (resistance) and 108.34 (support) today. The session bias is sideways, volatile and is currently trading down at 108.83.

Maybe I'm Wrong - Justifying $2,000+ Gold by Jeffrey Dow Jones

Gold fell from 1247.81 earlier to 1241.47 and is currently trading up at 1244.90. The current intra-session trend is positive and volatile.

Dr.Copper Pumped-And-Dumped On China's Schizophrenic Economic Data

Dr. Copper is at 3.142 falling from 3.168 earlier.

The US dollar is trading between 80.71 and 80.48 and is currently trading down at 80.58, the bias is currently quiet and sideways.

Real Time Market Numbers



Leading Stock Quotes powered by



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.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



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 - 2016 Econintersect LLC - all rights reserved