Midday Market Commentary For 07-12-2013
Markets have quietly muddled their way sideways on low to moderate volume. By 11:30 there was a slight negative trend forming but by 1 pm not much had happened.
Are we warming up to a push up and beyond or a correction of some sort.
The DOW at 1:00 is at 15417 down 41 or -0.26%.
The SP500 is at 1673 down 2.23 or -0.13%.
SPY is at 167.18 down 0.26 or -0.18%.
The $RUT is at 1034 up 0.99 or 0.10%.
NASDAQ is at 3577 down 1.50 or -0.04%.
NASDAQ 100 is at 3055 down 4 or -0.13%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish and the current bias is mixed but with a negative tendency.
WTI oil is trading between 104.37 and 105.92 today. The session bias is positive and is currently trading down at 105.66.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 107.04 and 109.00 today. The session bias is positive and is currently trading down at 108.70.
Gold fell from 1287.08 earlier to 1266.63 and is currently trading up at 1275.75.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.154 rising from 3.135 earlier.
The US dollar is trading between 82.77 and 83.39 and is currently trading down at 83.17, the bias is currently negative.
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Written by Gary
