Market Commentary: Large Caps Close Down, Small Caps Close In The Green

June 30th, 2014
in Gary's blogging, market close

Written by

Closing Market Commentary For 06-30-2014

The last 15 minutes of the session provided some much needed volume and activity as the averages struggles to stay afloat and not sink more than they did starting around 2:40.

By 4 pm the BTFDers holdout crowd stepped in and snatched what they think are the bargains of the day. The Dow closed down along with the SP500 and the NASDAQ closed up +0.23% I should say I am cautiously optimistic of an up day tomorrow, but like a casino, I wouldn't bet on it.

Follow up:

U.S. stocks end strong quarter on sour note

NEW YORK (MarketWatch) - U.S. stocks ended June and the second quarter higher, even as the broader market closed marginally lower on Monday.

The S&P 500 recorded the fifth consecutive month of gains and the biggest second-quarter gain since 2009.

The benchmark index SPX -0.04% closed less than a point lower at 1,960.19, gaining 3.9% over the month and 4.7% over the quarter.

The Dow Jones Industrial Average DJIA -0.15% shed 25.88 points, or 0.2%, to 16,825.96, but gained 1.9% over the past month and 2.4% over the past quarter.

The Nasdaq Composite COMP +0.23% defied the trend and ended the day 10.25 points, or 0.2%, higher at 4,408.18. The tech-heavy index gained 3.9% in June and 5% over the past quarter. Read the recap of stock market live blog .

For the first half of 2014, the S&P 500 gained a 6% rise, with the Dow industrials up 1.5%, and the Nasdaq up 5.5%. Airline, pharmaceutical, and utilities stocks led advancers during the period, which was marked by the impact of bad weather, a drop in first-quarter gross domestic product and a decline in Treasury yields.

The short term indicators are leaning towards the hold side at the closing. 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 down, but remains above zero at 14.43. I would advise caution in taking any position during this volatile period. shows a 88 % buy. members' sentiments are 59 % bearish and Investors Intelligence sets the breath at 68.7 % bullish with the status at Bear Correction. NYSE Bullish Percent Index ($BPNYA) is at 73.80. S&P 500 Bullish Percent Index ($BPSPX) is at 83.00.

(Click on $BPNYA or $BPSPX to see chart)

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 16827 down 25 or -0.15%.

The SP500 is at 1960 down 0.73 or -0.04%.

SPY is at 195.91 down 0.10 or -0.05%.

The $RUT is at 1193 up 3 or 0.29%.

NASDAQ is at 4408 up 10 or 0.23%.

NASDAQ 100 is at 3849 up 5 or 0.13%.

$VIX 'Fear Index' is at 11.60 up 0.34 or 3.02%. Neutral Movement

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

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

How Oil Really Gets Priced

WTI oil is trading between 105.72 (resistance) and 104.66 (support) today. The session bias is positive and is currently trading up at 105.42.

Brent Crude is trading between 112.80 (resistance) and 112.17 (support) today. The session bias is negative and is currently trading down at 112.42.

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

Gold rose from 1311.20 earlier to 1330.22 and is currently trading down at 1329.40. The current intra-session trend is positive.

Copper Surges To 4-Month High

Dr. Copper is at 3.205 rising from 3.163 earlier.

The US dollar is trading between 80.08 and 79.79 and is currently trading up at 79.82, the bias is currently negative.

Real Time Market Numbers

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Written by Gary

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