Written by Gary
Closing Market Commentary For 09-13-2013
Markets closed up thanks to the BTFDers that decided to jump in right after the bears had a decent sell off. Looks identical to what we have been witnessing for the last umpteen sessions.
The DOW posted the largest gain for the day with SPY and the SP500 following somewhat behind. The Small caps barley made it into the green column while the large caps didn’t go far into the resistance – AND that is problem for the bulls to work on over the weekend.
Not much to add for weekend thoughts, just have to be patient and let this current mess, er, consolidation play out. Just like the US political spectrum, odds are 50-50 you will be right on Monday. Time for an adult beverage!
The DOW at 4:00 is at 15376 up 75 or 0.49%.
The SP500 is at 1688 up 4.57 or 0.27%.
SPY is at 169.42 up 0.38 or 0.22%.
The $RUT is at 1054 up 5.50 or 0.52%.
NASDAQ is at 3722 up 6 or 0.17%.
NASDAQ 100 is at 3178 up 3 or 0.09%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been positive and the current bias is positive.
WTI oil is trading between 108.81 and 107.24 today. The session bias is negative and is currently trading up at 108.52.
Brent Crude is trading between 111.86 (gap here) and 110.56 today. The session bias is negative and is currently trading down at 111.75.
Gold fell from 1330.61 earlier to 1304.86 and is currently trading down at 1323.80.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.225 rising from 3.191 earlier.
The US dollar is trading between 81.57 and 81.91 and is currently trading up at 81.65, the bias is currently positive.
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Written by Gary
