Thursday, April 5, 2007

Closing Market News April 5, 2007

The Dow closed up 30 points at 12,572.47 and the Nasdaq closed up 12.65 at 2471.34. The Dow high was 12,572.47 and the low was 12,500.39 for a 72.08 point range.

Total volume was very light today on the NYSE as it traded 1.25 billion shares. Up/down volume was 1.98 to 1 positive, Nasdaq up/down volume was 2.94 to 1 positive.

June E-mini S&P futures closed up 4.25 at 1452.75 and the Nasdaq 100 futures closed up 9.00 at 1828.25. June E-mini S&P total volume was about half the normal volume as it traded 520,584 contracts. June 30 yr. T-Bond futures closed down 0-09 at 111-00.

May Oil futures closed down .10 at 64.28 and the May Natural Gas futures closed up .09 at 7.61.

June Gold futures closed up 2.00 at 679.40 and the May Silver futures closed up .12 at 13.74.

Grains were mixed with May Wheat closing up 13 ¾ cents at 4.45, May Beans closed down ½ cent at 7.60 ¼, and May Corn closed up 6 ¾ cents at 3.66.

June Live Cattle closed up 0.775 at 96.325 and the May Feeder Cattle closed up .35 at 111.85. June Lean Hogs closed unchanged at 75.60.

“Do not go where the path may lead, go instead where there is no path and leave a trail.”

Author: Ralph Waldo Emerson

AS I SEE IT: The market continued to trade a little higher today on very light volume. It has traded higher every day this week into the Good Friday holiday. Tomorrow the Stock Exchange will be closed but futures will trade. We could have some big moves coming after the Employment Report tomorrow morning at 8:30ET.

Even though the volume was very light today, the trading patterns were good for me. I had a good day trading the E-mini, Oil and the Grain markets using the Soaring Phoenix Market Trading Strategies.

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