Closing Market News June 13, 2007

The Dow closed up 187.34 at 13,482.35 and the Nasdaq closed up 32.54 points closing at 2582.31. The Transports closed up 85.63 points at 5080.45. The Dow high was 13,485.12 and the low was 13,294.61 for a 190.51 point range.

Total volume on the NYSE was average trading 1.58 billion shares. Up/down volume was 6.48 to 1 positive, Nasdaq up/down volume was 3.66 to 1 positive.

Sept E-mini S&P futures closed up 22.75 at 1530.25 and the Nasdaq 100 futures closed up 19.25 at 1937.25. Sept. E-mini S&P futures total volume was above average trading 2.1 million contracts. Sept. 30 Yr. T-Bond futures closed up 0-19 at 105-30.

August Oil futures closed up .87 at 66.93 and July Natural Gas futures closed down .07 at 7.61.

August Gold futures closed down .40 at 652.70 and July Silver futures closed down 0.025 at 13.065.

Grains were mixed with July Wheat closing up 24 ½ cents at 5.89 ½, July Beans closed down ¾ of a cent at 8.25 3/5, and July Corn closed up 11 cents closing at 4.04 ¾.

August Live Cattle futures closed down .75 at 89.55 and August Feeder Cattle closed down 1.425. July Lean Hogs closed down 0.375 at 75.30.

“Nothing so needs reforming as other people’s habits.”

Author: Mark Twain

AS I SEE IT: If you’re a trader you have to love these markets. The S&P traded lower overnight, but the Retail Sales Report rallied the market about 15 points from the low. Through the middle of the trading day the S&P formed a bull-flag and when the Beige Book Report came out at 2:00 ET the S&P surged higher. The total trading range for the E-mini S&P contract was 28 points, including overnight trading.

The S&P, Grains, and the Oil market futures were all great trading markets today. The bull market has not broken down, and unless the Sept. S&P closes below the 1509.00 area the up-trend will continue for me.