Closing Market Commentary For 04-04-2013
After our midday report the markets dried up, volume wise, and went to the ‘dark side’. Although never going on further than just being flat it had investors worried about the coming sessions, fallout from Cyprus and Mr. Market’s direction. As you have read elsewhere, there are valid pros and cons from both the bulls and bears in relation of the markets future direction and that has a lot of investors sitting on the sidelines.
Markets closed in the green, but mostly flat on low volume. The afternoon session was quiet and slow as the HFT computers did their ‘pump and dump’ trading.
Articles we read this afternoon.
The DOW at 4:00 is at 14606 up 55 or 0.38%.
The SP500 is at 1560 up 6.29 or 0.40%.
SPY is at 155.86 up 0.64 or 0.41%.
The $RUT is at 925.66 up 6.95 or 0.76%.
NASDAQ is at 3225 up 6.38 or 0.20%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been neutral with a bearish slant and the current bias is up.
WTI oil is trading between 97.44 and 92.15 today. The afternoon session bias is bullish and is currently trading up at 93.40.
Brent crude is trading between 107.78 and 105.05 today. The afternoon session bias is bullish and is currently trading up at 106.29.
Gold fell from 1604.40 earlier to 1541.10 and is currently trading up at 1553.59.
Dr. Copper is at 3.36 falling from 3.40 earlier.
The US dollar is trading between 82.73 and 83.66 and is currently trading sideways at 82.83, the bias is currently neutral to bearish.
The 500 at the close.
The DOW at the close.
** RRR = Risk Reward Ratio
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Written by Gary