Closing Market News March 22, 2007
The Dow closed up 13.62 points at 12,461.14 and the Nasdaq closed down 4.18 at 2451.74. The Dow high was 12,476.28 and the low was 23,408.51 for a 67.77 point range.
Total volume on the NYSE was above average trading 1.61 billion shares. Up/down volume was 1.11 to 1 negative, Nasdaq up/down volume was 1.56 to 1 negative.
May Oil futures closed up 2.08 at 61.69 and the April Natural Gas futures closed up .16 at 7.32.
“A good head and a good heart are always a formidable combination.”
Author: Nelson Mandela
AS I SEE IT: In the short-term the market was overbought today so it couldn’t gain much ground. There are a couple cross currents that need to be watched. The June 30 yr. T-Bond futures were down a full point at one time today and May Oil was 2.08 a barrel higher. The market might have a difficult time advancing if that trend continues, but it did show a lot of strength today with these bearish trends pulling against it.
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