Closing Market Commentary For 05-23-2013
Market was trading in a narrow range while the volume was in the moderate range. The bulls and bears did the tug-o-war thing most of the day and the bull sorta brought the markets back up to flat and lackluster status. The gap left this morning in the SP500 was just covered as was a few others. The question is are we good to go upward or downward?
My vote is upward, but what do I know?
The DOW at 4:00 is at 15294 down 13 or -0.08%.
The SP500 is at 1650 down 5 or -0.29%.
SPY is at 165.36 down 0.57 or -0.34%.
The $RUT is at 984.29 up 2 or 0.21%.
NASDAQ is at 3459 down 4 or -0.11%.
NASDAQ 100 is at 2991 down 7.68 or 0.26%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish and the current bias is positive.
WTI oil is trading between 94.22 and 92.28 today. The session bias is bearish and is currently trading down at 92.83.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 102.62 and 100.62 today. The session bias is bearish and is currently trading down at 101.25.
Gold rose from 1355.46 earlier to 1396.87 and is currently trading down at 1378.05.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.282 falling from 3.368 earlier.
The US dollar is trading between 84.59 and 83.80 and is currently trading up at 83.90, the bias is currently negative.
The 500 at the close.
The DOW at the close.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
