Midday Market Commentary For 06-26-2012
By noon the markets were at the opening point and like clockwork DaBoyz starting moving the numbers up as the volume dropped to anemic. And as the volume picked up the indexes leveled off. It is too bad the RRR** doesn’t expand with this known phenomenon. The only ones taking advantage of this are the HFT’s dealing in fractional point movements. Volumes at 1:30 remained low and virtually no news to react too. $RUT has remained just above its 200day MA.
WTI oil is at 78.84 trading between 79.60 and 78.70 and the bias is negative.
Brent crude is at 91.97 trading between 92.16 and 90.35 and the bias is neutral.
Gold is down today at 1570, trading between 1587 and 1572 with a negative bias.
Dr. Copper is at 3.31 down from 3.32 earlier.
At 1:30 the DOW is at 12513 up 9.31 or 0.08%.
The 500 is at 1317 up 4.05 or 0.31%.
The $RUT is at 763 up 1.35 or 0.18%.
SPY is at 131.73 up 0.40 or 0.31%.
The trend is neutral and the current bias is flat.
** RRR = Risk Reward Ratio
To contact me with suggestions or deserved praise:
Written by Gary