Closing Market Commentary For 06-17-2013
The markets sailed along in the afternoon session until about 2 pm where investors got cold feet and the averages started to fall. About an hour later the ‘dippers’ joined in and stopped the fall bringing the averages about half way back up. Not a good sign of things to come.
By 4 pm weakness was prevalent regardless that the averages put in a good show today. Investors are cautiously sitting on the sidelines waiting for the other shoe to drop as the Forex USD dropped like a rock and didn’t recover.
The DOW at 4:00 is at 15180 up 106 or 0.73%.
The SP500 is at 1639 up 12.32 or 0.76%.
SPY is at 164.53 up 1.34 or 82%.
The $RUT is at 987.83 up 6.45 or 0.66%.
NASDAQ is at 3452 up 28.57 or 0.83%.
NASDAQ 100 is at 2971 up 27.40 or 0.93%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been neutral and the current bias is neutral.
WTI oil is trading between 97.61 and 98.94 today. The session bias is positive and is currently trading sideways at 98.11.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 105.30 and 106.65 today. The session bias is positive and is currently trading sideways at 105.60.
Gold fell from 1391.35 earlier to 1380.06 and is currently trading up at 1384.64.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.200 falling from 3.237 earlier.
The US dollar is trading between 81.06 and 80.71 and is currently trading down at 80.75, the bias is currently negative.
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Written by Gary
