Thursday, April 12, 2007

Closing Market News April 12, 2007

The Dow closed up 68.34 at 12,557.35 and the Nasdaq closed up 21.01 at 2480.32. The Dow high was 12,557.35 and the low was 12,428.22 for a 129.19 point range.

Total volume on the NYSE was below average trading 1.48 billion shares. Up/down volume was 2.73 to 1 positive, Nasdaq up/down volume was 2.57 to 1 positive.

June E-mini S&P futures closed up 7.00 at 1455.50 and the Nasdaq 100 futures closed up 15.00 at 1827.75. June E-mini S&P futures total volume was average trading 1.16 million contracts. June 30 yr. T-Bond futures closed up 0-01 at 110-15.

May Oil futures closed up 1.84 at 63.85 and the May Natural Gas futures closed up .07 at 7.92.

June Gold futures closed down 1.90 at 679.80 and May Silver futures closed down 0.040 at 13.850.

Grains were mixed with the July Wheat up 3 ¼ cents at 4.74, July Beans closed down 7 ½ cents at 7.56 ½, and July Corn closed down 1 ¼ at 3.71 ¼.

June Live Cattle closed down 2.150 at 92.475 and May Feeder Cattle closed down 2.80 at 108.400. June Lean Hogs closed up .15 at 76.55.

“An eye for an eye only ends up making the whole world blind.”

Author: Mohandas Gandhi

AS I SEE IT: The market traded down close to support before turning to the upside for the rest of the day. The E-mini S&P closed back up near Wednesday’s high even though the Oil market closed 1.84 higher. Today this market was very strong, now we’ll see if the recent highs can be taken out. If the E-mini S&P trades below today’s low the market should turn down.


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