Monday, April 30, 2007

Closing Market News April 30, 2007

The Dow closed down 58.03 at 13,062.91 and the Nasdaq closed down 32.12 at 2525.09. The Dow high was 13,162.06 and the low was 13,061.53 for a 100.53 point range.

Total volume on the NYSE was above average trading 1.70 billion shares. Up/down volume was 3.81 to 1 negative, Nasdaq up/down volume was 4.62 to 1 negative.

June E-mini S&P futures closed down 13.50 at 1488.50 and the Nasdaq 100 futures closed down 27.50 at 1879.25. June E-mini S&P total volume was above average trading 1.18 million contracts. June 30 yr. T-Bond futures closed up 0-29 at 111.26.

June Oil futures closed down .75 at 65.71 and the June Natural Gas futures closed up .03 at 7.86.

June Gold futures closed up 1.70 at 683.50 and July Silver futures closed unchanged at 13.575.

Grains were mixed with July Wheat down 17 cents at 4.95 ½, July Beans were 4 ¾ cents higher closing at 7.43, and July Corn closed down 6 ½ cents at 3.67 ¼.

June Live Cattle futures closed up 0.850 at 94.125 and August Feeder Cattle closed up 1.375 at 112.850. June Lean Hogs closed up 0.525 at 75.100.

“He that is good for making excuses is seldom good for anything else.”

Author: Benjamin Franklin

AS I SEE IT: Poor market internals brought the market down today along with traders taking profits on long-term positions. Market internals have not been good 4 of the last 5 days, but it made no difference until today. Take a look at the ATM NUMBERS I send out before the market opens. Soaring Phoenix uses these numbers with our strategies to day-trade the market. This was a very good day for day-traders.

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