Midday Market Commentary For 06-06-2013
Markets are relatively quiet and moving sideways and I expect this to be the session trend. Volumes are light to moderate placing the averages in a mixed and directionless mode. Indicators are positive, but not much is happening.
By noon is was siesta time or a long lunch.
The DOW at 12:00 is at 14948 down 13 or -0.09%.
The SP500 is at 1610 up 2 or 0.11%.
SPY is at 161.54 up 0.27 or 0.16%.
The $RUT is at 971.56 up 3 or 0.32%.
NASDAQ is at 3399 down 3 or -0.12%.
NASDAQ 100 is at 2928 down 9 or -0.31%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is negative.
WTI oil is trading between 93.61 and 95.31 today. The session bias is bullish and is currently trading up at 95.03.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 102.82 and 103.84 today. The session bias is neutral and is currently trading up at 103.69.
Gold rose from 1391.20 earlier to 1413.79 and is currently trading up at 1411.45.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.316 falling from 3.395 earlier.
The US dollar is trading between 82.83 and 81.39 and is currently trading down at 81.64, the bias is currently negative.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
