Closing Market News April 11, 2007

The Dow closed down 89.23 at 12,580.03 and the Nasdaq closed down 18.30 at 2459.31. The Dow high was 12,580.03 and the low was 12,455.85 for a 124.18 point range.

Total volume on the NYSE was average trading 1.56 billion shares. Up/down volume was 2 to 1 negative, Nasdaq up/down volume was 2.53 to 1 negative.

June E-mini S&P futures closed down 7.50 at 1448.50 and June Nasdaq 100 futures closed down 16.75 at 1812.75. June E-mini S&P total volume was above average trading 1.15 million contracts. June 30 yr. T-Bond futures closed down 0-03 at 110-15.

May Oil futures closed up .12 at 62.01 and the May Natural Gas futures closed down .01 at 7.86.

June Gold futures closed up .20 at 681.70 and the May Silver futures closed down 0.050 at 13.880.

Grains closed mixed with July Wheat down 3 ¼ at 4.70 ¾, July Beans closed up 3 ½ at 7.64, and July Corn closed down 8 ½ cents at 3.72 ¾.

June Live Cattle closed down 1.175 at 94.625 and the May Feeder Cattle closed down .75 at 111.20. June Lean Hogs closed up .475 at 76.400.

“Do not worry if you have built your castles in the air. They are where they should be. Now put the foundations under them.”

Author: Henry David Thoreau

AS I SEE IT: The market did correct a little today as expected. Higher Oil and Gasoline futures prices along with the FOMC Minutes fueled the lower prices. The market had small gains for 4 trading days and today those gains were wiped out. Now we’ll have to see if the 1440 to41 area in the June E-mini S&P holds.

The Soaring Phoenix Market Strategies called the moves in the E-mini S&P, Oil, and the Grain markets perfectly during the day today.

LEARN OUR MARKET TRADING STRATEGIES AND YOU WON’T BE ABLE TO GET UP EARLY ENOUGH TO TRADE.