Closing Market Commentary For 05-13-2013
The gap for the DOW remains open from this morning and most likely will be closed tomorrow. Although the markets are mostly flat and mixed, they did surprisingly well recovering from the opening plummet this morning.
The markets have remained in the zone of indecision leaving investors in a lurch of what to do next; buy or sell!
What we read this afternoon.
What To Make Of The Fed’s Planned Exit Strategy
The Golden Canary In The Coal Mine
Using the Jobs Report To Forecast the Economy
David Rosenberg: A Bond Bull Turns Bearish
The DOW at 4:00 is at 15091 down 27 or -0.18%.
The SP500 is at 1633 up 0.07 or 0.00%.
SPY is at 163.61 up 0.20 or 0.12%.
The $RUT is at 973.78 down 1.38 or -0.14%.
NASDAQ is at 3439 up 2.21 or 0.06%.
NASDAQ 100 is at 2982 up 1.07 or 0.04%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish and the current bias is neutral.
WTI oil is trading between 95.95 and 94.53 today. The session bias is generally bearish with wide swings and is currently trading sideways at 95.00.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 103.84 and 102.11 today. The session bias is bearish and is currently trading down at 102.46.
Gold fell from 1437.91 earlier to 1425.87 and is currently trading down at 1428.65.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.356 rising from 3.337 earlier.
The US dollar is trading between 83.45 and 83.16 and is currently trading down at 83.35, the bias is currently sideways.
The 500 at the close. (The gap from this morning was filled)
The DOW at the close. (Green line is the very unusual gap that remains open.)
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
