Tuesday, March 20, 2007

Closing Market News

March 20, 2007

The Dow closed up 61.93 at 12,288.10 and the Nasdaq closed up 13.80 at 2408.21. The Dow high was 12,294.03 and the low was 12,213.11 for an 80.92 point range.

Total volume on the NYSE was below average trading 1.44 billion shares. Up/down volume was 2.75 to 1 positive, Nasdaq up/down volume was 2.70 to 1 positive.

June E-mini S&P futures closed 7.75 higher at 1423.50 and the Nasdaq 100 futures closed up 11.00 at 1792.25. June E-mini S&P futures total volume was average trading 1.05 million contracts. June 30 yr. T-Bond futures closed up 0.07 at 112.23.

May Oil futures closed down .45 at 59.25 and April Natural Gas futures closed up .06 at 6.91.

April Gold futures closed up 4.50 at 659.00 and the May Silver futures closed up 0.137 at 13.370.

Grains closed higher with May Wheat up 7 ¾ cents closing at 462 ¾, May Beans were up 5 ¼ at 764 ¾, and May Corn closed up 7 ½ at 405 ½.

April Live Cattle closed down .25 at 97.55 and May Feeder Cattle closed down 0.325 at 107.600. April Lean Hogs closed down 0.300 at 64.075.

“A people that values its privileges above its principles soon loses both.”
Author: Dwight D. Eisenhower

AS I SEE IT: The market continued to move up into resistance today. It feels like it is waiting for the FOMC Announcement tomorrow at 2:15ET. This is the second day up on light volume, so the market needs to move forward on heavier volume or we will start another leg down.

Soaring Phoenix Market Strategies used with the ATM Numbers follow market momentum, so no matter where the market goes our strategies will profit from the movement.

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