Midday Market Commentary For 08-13-2013
What did I tell you this morning about the session recovering and sliding sideways. Well the sideways sliding hasn’t happened just yet, but I expect it too.
By noon almost all the averages were somewhat into the green and the others were catching up. For the most part the numbers were not exactly inspiring and the volume fell to anemic levels allowing the HFT computers to continue to manipulate the numbers.
The markets look weak and tired. Not a scenario I want to trade in.
The DOW at 12:45 is at 15455 up 36 or 0.24%.
The SP500 is at 1693 up 3 or 0.19%.
SPY is at 169.47 up 0.35 or 0.21%.
The $RUT is at 1052 down 2 or -0.17%.
NASDAQ is at 3674 up 4 or 0.12%.
NASDAQ 100 is at 3130 up 4 or 0.12%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is bullish.
WTI oil is trading between 107.18 and 105.60 today. The session bias is negative and is currently trading down at 105.94.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 108.59 and 107.74 today. The session bias is negative and is currently trading down at 108.14.
Gold fell from 1340.69 earlier to 1318.18 and is currently trading up at 1319.90.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.310 falling from 3.342 earlier.
The US dollar is trading between 81.44 and 81.92 and is currently trading up at 81.83, the bias is currently bullish.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
Written by Gary
