econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result

Markets Opened Flat And Melted Down

admin by admin
10월 3, 2012
in 미분류
0
0
SHARES
0
VIEWS

Opening Market Commentary For 10-03-2012

Premarket was up a smidgin early this morning and when the ADP National Employment Report showed, topping estimates for an increase of 143,000, the markets backed off a smidge.

Markets opened flat with a bearish slant and by the 20 minute mark the DOW was off 10 points and the SP500 off 50 cents, both on very low volume. By 10 am the losses began to mount as the averages continued to melt downwards. The DOW was off 30 and the SP500 was off by 2 just before the 10 am ISM Non-Manufacutring Composite expecting 53.4, with the previous number of 53.7. After reporting a rise to 55.1, highest since March, the markets decided to sell the news, again under low volume. This movement, like previous session actions, is suspect to validity because of low volume. I bet if we didn’t have HFT, the entire picture would look different in that there wouldn’t be ‘rubber banding’ after each 5 minute move.

By 10:15 the low volume markets started to melt up and this looks like another lackluster day of wandering averages. According to FoxNews, the increase in August payrolls was revised down to 189,000 from 201,000 which is continuing bearish news.

QE’s biggest problem? Destruction of savings

The RRR** was very narrow at the opening bell and any trades will probably end up on the unprofitable side as long as this market has low volume and remains flat. Swing trading is at your own risk and being the market is at a crossroads of sorts, I would prefer to sit on my hands rather than risk guessing incorrectly. Like you, I am waiting for a clear signal so I can place my bets.

The DOW at 10:30 is at 13491 up 9 or 0.07%.

The 500 is at 1448 up 2.34 or 0.16%.

The $RUT is at 839.42 down 1.01 or -0.12%.

SPY is at 144.86 up 0.37 or 0.25%.

The longer trend is up, the past week’s trend is neutral and the current bias is neutral.

 

WTI oil is down today and is at 89.64 trading between 91.81 and 89.25 and the bias is negative.

Brent crude is down today and is at 108.71 trading between 111.33 and 108.20 and the bias is negative.

Gold is up today at 1778.58, trading between 1770.71 and 1781.66 with a neutral bias.

Dr. Copper is at 3.78 down from 3.82 earlier.

The US dollar rose from 79.80 earlier to 80.08 and is currently trading at 79.92.

@RickAckerman:______

A Menacing Pause on Wall Street

Stocks and index futures have shown a slavish devotion to our Hidden Pivot targets lately.  Only trouble is, the vehicles that we ordinarily trade have barely budged.  The E-Mini S&P futures, for instance.

Came mid-August, however, they went flat, taking a 20-day breather to recharge for two single-day spurts that temporarily alleviated the tedium. . . Is the same thing about to happen again?  If not, look out below.

Three weeks ago, the E-Mini went into a dirge after soaring for two days on the promise that Helicopter Ben was prepared – again — to do yet whatever it takes to keep the stock market afloat until after the election.

. . . we would be remiss if we failed to point out that the broad averages have fallen back to where they were before Heli-Ben came galloping to the “rescue” for the umpteenth time.

Considering the foregoing, it feels like U.S. stocks are in a very dangerous place, hovering all-too-patiently as they wait for “something” to goose stocks again. We can’t imagine what would set them a-surge, even though we’re on record with a prediction of a 1400-point rally in the Dow, to 14969.

we are no longer asserting that the rally will unfold by election time.  The buying energy just doesn’t seem to be there.  More likely is that stocks will continue to meander until after November 6.

And then what?  For us, at least, it’s beyond imagining that the re-election of Barack Obama would spark a big rally on Wall Street.  Ditto for a Romney victory.  What that implies is that stocks have nowhere to go but down.

** RRR = Risk Reward Ratio

To contact me with suggestions or deserved praise:

[email protected]

Written by Gary

Previous Post

Fed Survey Lists Global “To Big To Fail” Banks

Next Post

Advertised Vacancies Rose 128,600 in September 2012

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post

Advertised Vacancies Rose 128,600 in September 2012

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect