Closing Market News April 2, 2007
The Dow closed up 27.95 at 12,382.30 and the Nasdaq closed up .62 at 2422.26. The Dow high was 12,394.98 and the low was 12,325.09 for a 69.89 point range.
Total volume on the NYSE was below average trading 1.49 billion shares. Up/down volume was 1.71 to 1 positive, Nasdaq up/down volume was 1.09 to 1 negative.
June E-mini S&P futures closed up 2.00 at 1433.25 and the Nasdaq 100 futures closed down .75 at 1790.00. June E-mini S&P futures total volume was average trading 903,907 million contracts. June 30 yr. T-Bond futures closed up 0-02 at 111-10.
May Oil futures closed up .07 at 65.94 and May Natural Gas futures closed down .06 at 7.67.
June Gold futures closed up 2.80 at 671.50 and May Silver futures closed down .10 at 13.35.
Grains were mixed with May Wheat closing down 10 ½ cents at 4.28, May Beans were up 17 ¾ at 7.79, and May Corn futures closed down 19 ½ cents at 3.55.
June Live Cattle futures closed up 1.575 at 96.450 and May Feeder Cattle closed up 1.250 at 111.225. June Lean Hogs closed up .125 at 75.525.
“I don’t like to commit myself about heaven and hell – you see, I have friends in both places.”
Author: Mark Twain
AS I SEE IT: The market sold off a little during the first hour of trading, and then spent the rest of the day rallying back up. This is the same pattern we’ve had for the last 3 days. Window Dressing has been in full force and it might continue for another day or so, but I believe we’ll start another leg down soon unless Oil prices drop considerably. Volume is light because of Passover and a shortened week with Good Friday celebrated on Friday.
Even with the light volume the Soaring
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