Closing Market News June 21, 2007
The Dow closed up 56.42 at 13,545.84 and the Nasdaq closed up 17.00 at 2616.96. Transports closed up 45.68 at 5152.51.
Total volume on the NYSE was average trading 1.60 billion shares. Up/down volume was 2.08 to 1 positive, Nasdaq up/down volume was 2.97 to 1 positive.
Sept. E-mini S&P futures closed up 8.75 at 1535.75 and the Nasdaq 100 futures closed up 18.00 at 1965.75. Sept. E-mini S&P futures total volume was above average trading 1.91 million contracts. Sept. 30 Yr. T-Bond futures closed down 0-20 at 105-31.
August Oil futures closed down .21 at 68.65, and July Natural Gas futures closed down .04 at 7.35.
August Gold futures closed down 5.80 at 654.20 and July Silver futures closed down .16 at 13.09.
Grains were mixed with July Wheat closing down 1 cent at 6.06, July Beans closed down 20 ½ cents at 8.18 ½, and July Corn closed down 8 ¾ at 3.85 ½.
August Live Cattle futures closed down 0.575 at 89.925 and August Feeder Cattle closed unchanged at 108.10. July Lean Hogs closed up 0.075 at 74.80.
“The greatest glory in living lies not in never falling, but in rising every time we fall.”
Author: Nelson Mandela
AS I SEE IT: Interest rates that were a little higher and an Oil market that was a little lower couldn’t keep stocks from rising today. The market sold off early to short-term support and rallied, stopping out short-sellers as the day continued. This bull market continues, and unless today’s low is taken out on a closing basis in the S&P contract, short, intermediate, and long-term trends are still up for me. The day-trading trends are still down with the first resistance at 1540.00 in the E-mini S&P contract using the Soaring
DayTrading was very good today in the S&P, Nasdaq, Oil, and the Grains.
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