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Major Indices Close Above Yesterday’s Highs

admin by admin
4월 11, 2013
in 미분류
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Closing Market Commentary For 04-11-2013

Markets were generally quiet after posting new historical highs this morning. Volume has been on the low to moderate side and not reminiscent of a raging bull market. The lack of investor participation, reflected by continued low volume statistics, paint a completely different picture of what a ‘real’ bull market should be.

I’ll repeat again that my proprietary indicators are unusually high on the bear side and have been for the last 3 sessions gaining from one digit to today’s 3. Having said that, I am not quite ready to start shorting, nor am I going to go long. I do not believe we will have long to wait to see what Mr. Market is going to do.

The markets closed up with the MDY (SP 400 Mid Cap) doing a rendition of a shooting star. If this is a shot across the bow for investors we will see what it means, if anything, in the next few days.

What we read this afternoon:

5 Big Retailers That’ll Be Gone in 5 Years: Sozzi

Kostohryz: If You’re Thinking About Buying Stocks Now, Stop!

‘The Crisis Isn’t Over in the US or Europe’

The DOW at 4:00 is at 14865 up 63 or 0.42%.

The SP500 is at 1593 up 5.64 or 0.36%.

SPY is at 159.22 up 0.54 or 0.34%.

The $RUT is at 947.05 up 0.96 or 0.10%.

NASDAQ is at 3300 up 2.91 or 0.09%.

NASDAQ 100 is at 2859 down 0.14 or -0.00%. (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 bullish and the current bias is sideways.

How Oil Really Gets Priced up

WTI oil is trading between 94.64 and 92.15 today. The session bias is bearish and is currently trading up at 93.42.

More Widening For The Brent/WTI Spread ahead?

Brent crude is trading between 106.00 and 104.10 today. The session bias is negative and is currently trading down at 104.30.

Gold rose from 1553.21 earlier to 1568.38 and is currently trading down at 1560.72.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.43 rising from 3.39 earlier.

The US dollar is trading between 82.68 and 82.15 and is currently trading up at 82.36, the bias is currently neutral to bullish.

The 500 at the close.

The DOW at the close.

More on Bitcoin.

How The Bitcoin Collapse Stacks Up Against History’s Ugliest Market Crashes

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

[email protected]

Written by Gary

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