Written by Gary
Midday Market Commentary For 10-21-2013
Markets still sliding sideways and the volume has fallen to anemic levels.
Investors are obviously worried where Mr. Market is going to go next as the current batch of rumors and innuendos is not very good. Reality isn’t very good either. Hard to predict, guess or otherwise read the tea leaves today. The markets want to go up, but it is not happening – stay tuned.
Indicators are definitely on the bearish side, strongly I might add, but don’t trust anything right now.
The DOW at 12:45 is at 15388 down 12 or -0.08%.
The SP500 is at 1744 down 0.11 or -0.01%.
SPY is at 174.37 up 0.02 or 0.01%.
The $RUT is at 1116 up 0.84 or 0.07%.
NASDAQ is at 3923 up 9 or 0.24%.
NASDAQ 100 is at 3363 up 9 or 0.28%.
The longer trend is up, the past months trend is bullish, the past 5 sessions have been positive and the current bias is sideways.
WTI oil is trading between 101.20 and 99.80 today. The session bias is negative and is currently trading down at 99.99.
Brent Crude is trading between 110.17 and 109.21 today. The session bias is negative and is currently trading down at 109.73.
Gold fell from 1324.00 earlier to 1313.24 and is currently trading down at 1315.90.
Here’s why copper has lost its indicator role
Dr. Copper is at 3.304 falling from 3.311 earlier.
The US dollar is trading between 79.67 and 79.87 and is currently trading up at 79.76, the bias is currently negative.
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Written by Gary
