Written by Gary
Midday Market Commentary For 08-29-2013
Markets generally reached Tuesday’s highs and leveled off as volume fell to near anemic levels. Even the HFT algo computers are being cautious along with investors sitting on their hands. Although the BTFDers have been active, the other 75% of investors are watching the Syrian and Western military issue unfold.
By noon traders had stepped out for lunch and some went as far as catching the train to the burbs calling it a day.
The DOW at 12:00 is at 14910 up 85 or 0.58%.
The SP500 is at 1646 up 11 or 0.68%.
SPY is at 164.98 up 1.07 or 0.66%.
The $RUT is at 1028 up 12 or 1.18%.
NASDAQ is at 3634 up 41 or 1.13%.
NASDAQ 100 is at 3108 up 36 or 1.16%.
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 108.62 and 109.86 today. The session bias is neutral and is currently trading up at 109.20.
Brent Crude is trading between 114.94 and 116.47 today. The session bias is negative and is currently trading down at 115.95.
Gold fell from 1418.18 earlier to 1402.78 and is currently trading down at 1406.30.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.260 falling from 3.323 earlier.
The US dollar is trading between 81.41 and 82.10 and is currently trading up at 82.09, the bias is currently bullish.
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Written by Gary
