Midday Market Commentary For 03-19-2013
Today is an interesting session as the averages are moving in several directions and without warning. Markets are displaying a lot of weakness as the indices drop from the morning highs to below the opening numbers on relatively moderate red volume.
By noon the major indices were off by -0.55% and attempting to consolidate at these lower levels. Where are the HFT computers when you need them. Stay tuned the session is not over yet and the Cyprus law makers have still to vote.
The DOW at 12:00 is at 14417 down 33 or -0.22%.
The SP500 is at 1544 down 8 or -0.50%.
SPY is at 154.17 down 0.82 or -0.53%.
The $RUT is at 943.06 down 4 or -0.44%.
NASDAQ is at 3220 down 17 or -0.53%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish to neutral and the current bias is down.
WTI oil is trading between 94.08 and 93.30 today. The session bias is mixed and is currently trading down at 93.41.
More Widening For The Brent/WTI Spread Ahead?
Brent crude is trading between 108.99 and 107.40 today. The session bias is mixed and is currently trading down at 108.15.
Gold rose from 1599.89 earlier to 1613.40 and is currently trading up at 1612.78.
Dr. Copper is at 3.42 up from 3.41 earlier.
The US dollar is trading between 82.63 and 83.07 and is currently trading up at 83.03, the bias is currently bullish.
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Written by Gary
