Friday, April 13, 2007

Closing Market News April 13, 2007

The Dow closed up 59.17 at 12,615.38 and the Nasdaq closed up 11.62 at 2491.94. The Dow high was 12,615.38 and the low was 12,531.43 for an 83.95 point range.

Total volume on the NYSE was below average trading 1.40 billion shares. Up/down volume was 1.84 to 1 positive, Nasdaq up/down volume was 1.91 to 1 positive.

June E-mini S&P futures closed up 5.75 at 1461.25 and the Nasdaq 100 closed up 4.00 at 1831.75. June E-mini S&P futures total volume was below average trading 975,395 contracts. June 30 yr. T-Bond futures closed down 0-09 at 110-06.

May Oil futures closed down .22 at 63.63 and the May Natural Gas futures closed down .12 at 7.80.

June Gold futures closed up 9.90 at 689.60 and the May Silver futures closed up 0.225 at 14.080.

Grains were mixed with July Wheat up 16 cents closing at 4.90, July Beans were down 1 ½ cents at 7.55, and July Corn was 10 cents higher closing at 3.81 ¼.

June Live Cattle futures closed up 0.225 at 92.700 and May Feeder Cattle closed down 0.675 at 107.725. June Lean Hogs closed up 0.450 at 77.000.

“God gave us the gift of life; it is up to us to give ourselves the gift of living well.”

Author: Voltaire

AS I SEE IT: Today’s price action was almost an exact repeat of yesterday’s market. The market opened higher, sold off to short-term support, and then rallied all day in a nice price channel, closing near the high of the day. The market was strong again today, but I don’t like the Bonds moving down. The interest rates have been gradually moving higher almost everyday.


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