Midday Market Commentary For 05-10-2013
By noon the averages began to creep below the morning lows and just above yesterday’s lows all on low volume. Where are the HFT computers to drive them back up when you need them?
The averages remain flat, mixed and somewhat bearish.
What we read this morning.
S&P 500 Snapshot: The 5-Day Rally Ends
Stock Market Euphoria Vs. The Underlying Economic Data
Hedge Funds Are Not Buying Into This Bull Market: Should You?
U.S. Retail Sales Set Up For Major Decline
Bill Gross says bond bull market is over, buys Treasurys
The DOW at 12:15 is at 15052 down 30 or -0.20%.
The SP500 is at 1625 down 1 or -0.06%.
SPY is at 162.75 down 0.13 or -0.07%.
The $RUT is at 970.08 up 4 or 0.40%.
NASDAQ is at 3419 up 10 or 0.31%.
NASDAQ 100 is at 2966 up 5 or 0.19%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been positive and the current bias is neutral to negatice.
WTI oil is trading between 96.24 and 93.41 today. The session bias is bearish and is currently trading up at 94.02.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 104.42 and 101.56 today. The session bias is bearish and is currently trading up at 102.28.
Gold fell from 1461.36 earlier to 1419.28 (leaving a gap at 1430.35) and is currently trading up at 1429.05.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.352 rising from 3.303 earlier.
The US dollar is trading between 82.74 and 83.50 and is currently trading down at 83.31, the bias is currently bullish.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
