econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result

Markets Close Higher But Slide Sideways Under Resistance

admin by admin
9월 4, 2013
in 미분류
0
0
SHARES
0
VIEWS

Written by Gary

Closing Market Commentary For 09-04-2013

Markets slide sideways for most of the late session on lower than normal volume. Although the markets closed up in a respectable manner, the averages look weak, unattractive and could very well collapse under their own weight.

By 4 pm we saw trading confined in a narrow range bound zone where the highs of the day filled several significant gaps. It appears the averages have reached a resistance, but low volume will not be enough to push the numbers through and above.

The problem I have with this weakness and supposedly house of cards that will fall at any moment is that I can see technical reasons why the markets should continue to move up. Yes, the nails that are used are indeed rusty and failing a critical points, but I can’t see the bottom falling out just yet.

What I see is a testing of the resistance level (and tops) formed around the first of August, 2013. That is where I believe today’s markets will rise to or at least very close to fill another gap made after 8-14-2013.

The gap lies at 1685 for the SP500 and 1048 for the $RUT. From there is a VERY strong resistance that could signal a ‘correction’ all the pundits have been wailing about.

The DOW at 4:00 is at 14931 up 97 or 0.65%.

The SP500 is at 1653 up 13 or 0.81%.

SPY is at 165.88 up 1.50 or 0.90%.

The $RUT is at 1025 up 9 or 0.92%.

NASDAQ is at 3649 up 36 or 1.01%.

NASDAQ 100 is at 3124 up 33 or 1.06%.

The longer trend is up, the past months trend is bullish, the past 5 sessions have been sideways and the current bias is sideways.

How Oil Really Gets Priced

WTI oil is trading between 108.60 and 106.84 today. The session bias is negative and is currently trading down at 107.26.

Brent Crude is trading between 116.02 and 114.44 today. The session bias is negative and is currently trading down at 114.89.

Gold fell from 1414.99 earlier to 1384.73 and is currently trading down at 1383.10.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.249 falling from 3.314 earlier.

The US dollar is trading between 82.46 and 82.11 and is currently trading down at 82.16, the bias is currently bearish.

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

[email protected]

 

Written by Gary

 

Previous Post

The Part-Time Investor

Next Post

Is Fiscal Austerity Good for the Economy?

Related Posts

Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by admin
Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
6,746 ETH Valued At $12M Was Just Burned
Economics

6,746 ETH Valued At $12M Was Just Burned

by admin
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin: What Next After Consolidation Ends?

by admin
US Government Offloads Another 8,200 Bitcoin – On-chain Data
Economics

US Government Offloads Another 8,200 Bitcoin – On-chain Data

by admin
Next Post

Is Fiscal Austerity Good for the Economy?

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect