Closing Market News April 18, 2007

The Dow closed up 30.80 points at 12,803.84 and the Nasdaq closed down 6.45 at 2510.50. The Dow high was 12,838.46 and the low was 12,728.99 for a 109.47 point range.

Total volume was above average on the NYSE as it traded 1.60 billion shares. Up/down volume was 1.07 to 1 negative, Nasdaq up/down volume was about even.

June E-mini S&P futures closed up 1.25 points at 1480.25 and the Nasdaq 100 futures closed down 4.00 at 1848.25. June E-mini S&P total volume was average trading 1.09 million contracts. June 30 yr. T-Bond futures closed up 0-11 at 111-15.

June Oil futures closed down .08 at 64.38 and May Natural Gas futures closed up .08 at 7.50.

June Gold futures closed up .80 at 693.30 and May Silver futures closed down 0.045 at 13.975.

Grains were mixed with July Wheat closing down 1 ¾ cents at 4.89, July Beans closed down 8 ¾ at 732 ½, and July Corn closed up 10 cents at 3.75 ¼.

June Live Cattle futures closed down 0.450 at 92.825 and May Feeder Cattle closed down 1.05 at 108.30. June Lean Hogs closed down 0.825 at 76.60.

“Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.”

Author: Milton Friedman

AS I SEE IT: The short-term overbought condition didn’t change today. The market did go a little higher after starting off lower when the opening bell sounded this morning. It immediately rallied and slowly moved higher until the last half hour, when the S&P dropped 5 points from its high. The market internals were not good all day today.

Earnings continue to stream in, so we need to trade with the momentum, but keep protective stops under your long positions here.

LEARN THE SOARING PHOENIX MARKET TRADING STRATEGIES AND PROFIT FROM THEM.

A VERY AFFORDABLE DAY-TRADING PRODUCT WILL BE AVAILABLE VERY SOON.

STAY TUNED!!