Closing Market Commentary For 08-01-2013
Volume gradually increased from dismal to anemic as the HFT computers melted the markets higher where the SP 500 marked new historical highs at 1707.85.
The averages generally performed well even without investors help. Any bets on the markets selling off some tomorrow?
The DOW at 4:00 is at 15628 up 128 or 0.83%.
The SP500 is at 1707 up 21 or 1.25%.
SPY is at 170.51 up 1.80 or 1.07%.
The $RUT is at 1060 up 14.62 or 1.40%.
NASDAQ is at 3676 up 49 or 1.36%.
NASDAQ 100 is at 3126 up 36 or 1.17%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been bullish and the current bias is bullish.
WTI oil is trading between 105.10 and 108.04 today. The session bias is bullish and is currently trading up at 107.70.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 107.53 and 109.59 today. The session bias is bullish and is currently trading down at 109.31.
Gold fell from 1327.74 earlier to 1307.80 and gaping at 1318.93 and is currently trading down at 1310.05.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.161 rising from 3.102 earlier.
The US dollar is trading between 81.48 and 82.50, gaping at 82.11 and is currently trading up at 82.46, the bias is currently bullish.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
