Closing Market Commentary For 10-30-2012
The US Markets were closed all day as most know. The Consumer Confidence report was delayed until tomorrow at a time not yet announced. Other financial news will be important – see chart below for times.
Dailyfx wrote, “There could be some extreme volatility on the open of US Equity markets tomorrow – Two days of news with big events to price in. Be careful.”
It could be volatile and then again it may be a bust as many will not be able to get to work.
Tomorrow is going to be interesting with some important financial news as listed below.
Foxnews reports that trading in U.S. equities will begin at 9:30 a.m. ET Wednesday as usual after a two-day hiatus triggered by Hurricane Sandy that pounded New York City, according to statements from NYSE Euronext and Nasdaq OMX Group.
More on this story.
Guessing where the market is going to be tomorrow or next week, at this time anyway, is a foolish endeavor.
The DOW is closed today because of Hurricane Sandy.
The 500 is is closed today because of Hurricane Sandy.
The $RUT is is closed today because of Hurricane Sandy.
SPY is is closed today because of Hurricane Sandy.
The longer trend is up, the past week’s trend is bearish and the current bias is neutral.
WTI oil was up, now down and is at 85.61 trading between 86.22 and 85.10 and the bias is negative.
Brent crude was up today and is now melting down at 108.88 trading between 108.72 and 110.15 and the bias is negative.
Gold is down this morning. Currently trading up at 109.65, trading range is between 1704.75 and 1714.50 with a negative bias.
So Goes Copper, So Goes the Global Economy?
Dr. Copper is at 3.51 down from 3.53 earlier.
The US dollar fell from 80.36 earlier to 79.93 and is currently trading at 80.01.
Written by Gary
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