Monday, June 25, 2007

Closing Market News June 25, 2007

The Dow closed down 8.21 points at 13,352.05 and the Nasdaq closed down 11.88 at 2577.08. Transports closed up 16.62 at 5124.84.

Total volume on the NYSE was above average trading 1.73 billion shares. U/down volume was 2.47 to 1 negative, Nasdaq up/down volume was 2.20 to 1 negative.

Sept. E-mini S&P futures closed down 7.00 at 1513.50 and the Nasdaq 100 futures closed down 7.00 at 1941.00. Sept. E-mini S&P futures total volume was above average trading 1.9 million contracts. Sept. 30 Yr. T-Bond futures closed up 0-18 at 106-30.

August Oil futures closed up .04 at 69.18 and July Natural Gas futures closed down .19 at 6.94.

August Gold futures closed down 2.30 at 654.70 and July Silver futures closed down 0.143 at 12.877.

Grains were mixed with Sept Wheat down ½ cent at 604 ½, Nov. Beans closed up 7 ¾ cents at 8.38 ½, and Dec. Corn closed down 7 ½ cents at 3.74.

August Live Cattle futures closed down .35 at 89.30 and August Feeder Cattle closed up .15 at 108.55. August Lean Hogs closed up 0.175 at 72.550.

“A true friend is the greatest of all blessings, and that which we take the least care of all to acquire.”

Author: Francois de La Rochefoucauld

AS I SEE IT: The market sold off very early this morning but once again rallied up to resistance before rolling over mid-day. The S&P continued to trade down below my day-trading resistance levels, and the short-term support numbers were broken this afternoon too. Intermediate and long term numbers are still bullish for me this evening. The market would have to take out today’s high to turn the day-trading and short-term Soaring Phoenix Market trading strategies higher.

The E-mini S&P, Nasdaq 100, Grains and the Oil market had very nice day-trading patterns today. The August Oil contract had a $1.90 cent range today.

No comments: