Midday Market Commentary For 08-19-2013
From the surprising reversal opening this morning the averages have been melting down to where they are now all red, except for the small caps. The NASDAQ is up over 0.30% and I expect the large caps to turn around before the end o f this session or at least trim the small losses we see at noon.
By noon the down trend was in place but might not remain that way. At any rate the averages are flat, unattractive and sightly negative – all on anemic volume of course. Where are the HFT computers when you need them?
Interesting article at noon.
European Bonds And Stocks Slump Most In 6 Weeks
The DOW at 12:45 is at 15077 down 4 or -0.03%.
The SP500 is at 1655 down 1 or -0.05%.
SPY is at 165.75 down 0.07 or -0.04%.
The $RUT is at 1023 down 1.46 or -0.14%.
NASDAQ is at 3618 up 15 or 0.43%.
NASDAQ 100 is at 3095 up 21 or 0.67%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is negative.
WTI oil is trading between 107.82 and 106.32 today. The session bias is sideways and is currently trading down at 106.95.
More Widening For The Brent/WTI Spread ahead?
Brent crude is trading between 109.98 and 110.97 today. The session bias is negative and is currently trading up at 110.08.
Gold fell from 1384.08 earlier to 1362.28 and is currently trading down at 1364.40.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.329 falling from 3.372 earlier.
The US dollar is trading between 81.42 and 81.17 and is currently trading up at 81.31, the bias is currently positive.
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Written by Gary
