Midday Market Commentary For 08-16-2013
Nothing, not a darn thing happened all morning. Investors sat on their hands waiting for the other guy to make a move as the averages remained flat, mixed and lackluster.
By 12:30 the averages were headed down to test the support from yesterday’s session. Moving very slow on anemic volume the numbers melted downward towards the ‘line in the sand’.
Indicators are leaning towards the bullish side, but that could change in a heartbeat as we all know only too well.
The DOW at 1:45 is at 15089 down 23 or -0.15%.
The SP500 is at 1658 down 3 or -0.21%.
SPY is at 166.05 down 0.32 or -0.20%.
The $RUT is at 1028 up 0.55 or 0.05%.
NASDAQ is at 3612 up 6 or 0.16%.
NASDAQ 100 is at 3081 up 5 or 0.15%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is slightly negative.
WTI oil is trading between 106.84 and 108.16today. The session bias is mixed and is currently trading up at 107.18.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 109.17 and 110.31 today. The session bias is mixed and is currently trading up at 109.75.
Gold rose from 1357.04 earlier to 1373.88 and is currently trading cccccc at 1366.90.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.361 rising from 3.339 earlier.
The US dollar is trading between 81.06 and 81.44 and is currently trading up at 81.39, the bias is currently sideways.
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Written by Gary
