Midday Market Commentary For 04-05-2013
Markets continue to churn on low volume and slide sideways. Action may be over for today as the HFT computers do their thing. Most human investors are sitting on the sidelines waiting for the other ‘shoe’ to drop.
By noon the averages had settled off their morning lows and the afternoon traffic will most likely be more of the same.
Here is what we read this morning.
The DOW at 12:15 is at 14482 down 123 or -0.84%.
The SP500 is at 1544 down 15 or -1.00%.
SPY is at 154.28 down 1.57 or -1.00%.
The $RUT is at 918.88 down 6.79 or -0.73%.
NASDAQ is at 3187 down 38 or -1.17%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been up trending to bearish and the current bias is sideways with a negative slant.
WTI oil is trading between 97.47 and 91.80 today. The session bias is bearish and is currently trading up at 92.54.
Brent crude is trading between 106.42 and 104.16 today. The session bias is bearish and is currently trading down at 104.67.
Gold rose from 1550.55 earlier to 1563.78 and is currently trading sideways at 1566.88.
Dr. Copper is at 3.34 down from 3.37 earlier.
The US dollar is trading between 83.00 and 82.40 and is currently trading up at 82.52, the bias is currently negative.
** RRR = Risk Reward Ratio
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary