Closing Market Commentary For 06-25-2013
Sort of a quiet day in reflection of a good financial reporting this morning as volume was very low most of the afternoon. One would have thought investors would revel in good news and send the numbers soaring. The averages did continue to melt upwards from the morning opening to where the DOW did close above 100 and the obvious gap on the SP500 was finally closed around 3:30 – all bullish.
By 4 pm the markets fell off their session highs a bit but appear to be set for tomorrow being another up session. Volume was lighter than usual during the final minutes and might signal another quiet day tomorrow if though it should be a positive one. Indecisiveness seems be the one key trait of investors as the guess on where Mr. Market is going to take them.
I believe we will see the averages climb back up to at least the closing numbers of last Wednesday before the 2 week of July. Just a guess and you know how I hate to guess.
The DOW at 4:00 is at 14760 up 100 or 0.69%.
The SP500 is at 1588 up 15 or 0.95%.
SPY is at 158.52 up 1.46 or 0.93%.
The $RUT is at 961.26 up 10.21 or 1.07%.
NASDAQ is at 3348 up 27 or 0.82%.
NASDAQ 100 is at 2866 up 18 or 0.64%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bearish and the current bias is bullish.
WTI oil is trading between 94.60 and 96.15 today. The session bias is neutral and is currently trading down at 95.25.
Brent crude is trading between 102.08 and 100.69 today. The session bias is neutral and is currently trading down at 101.25.
Gold fell from 1288.68 earlier to 1270.99 and is currently trading down at 1276.65.
Dr. Copper is at 3.066 rising from 2.985 earlier.
The US dollar is trading between 82.44 and 82.94 and is currently trading down at 82.77, the bias is currently neutral to bearish.
The 500 at the close.
The DOW at the close.
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Written by Gary