Midday Market Commentary For 04-09-2013
The markets continued to bounce back and forth but remaining in the flat zone all morning. Some selling, some buying and no direction.
By noon the decision to go play a round of golf was getting more attention around the office. Just the thought of the markets starting a 6 month trend of just trending sideways made more than a few of us sick. However, that is what many analysts are starting to believe will happen. Stay tuned.
What we read this morning.
Chinese inflation falls sharply.
Weekly Gasoline Update: Sixth Week of Falling Prices
Game Changer: Market Beware Slower Economic Growth
Stories Deserving More Attention: Did You See This?
The DOW at 12:15 is at 14646 up 33 or 0.23%.
The SP500 is at 1566 up 3 or 0.18%.
SPY is at 156.51 up 0.30 or 0.19%.
The $RUT is at 930.40 down 1 or -0.12%.
NASDAQ is at 3226 up 4 or 0.13%.
NASDAQ 100 is at 2791 up 5 or 0.19%. (A lot of analysts are currently watching the 100.)
The longer trend is up, the past months trend is bullish, the past 5 sessions have been neutral to bearish and the current bias is sideways with a slight positive slant.
WTI oil is trading between 92.55 and 93.79 today. The session bias is neutral and is currently trading up at 93.33.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 103.68 and 105.56 today. The session bias is neutral and is currently trading down at 104.75.
Gold rose from 1570.50 earlier to 1590.28 and is currently trading down at 1588.20.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.43 rising from 3.33 earlier.
The US dollar is trading between 82.81 and 82.38 and is currently trading up at 82.45, the bias is currently bearish.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
<p><strong><span style=”font-family: arial,helvetica,sans-serif;”><span style=”font-size: medium;”>Written by <a rel=””author”” href=”/files/gary.htm”>Gary</a></span></span></strong></p>
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