Tuesday, June 5, 2007

Closing Market News June 5, 2007

The Dow closed down 80.86 at 13,595.46 and the Nasdaq closed down 7.06 at 2611.23. The Dow high was 13,673.51 and the low was 13,551.00 for a 122.51 point range.

Total volume on the NYSE was average trading 1.51 billion shares. Up/down volume was 3.28 to 1 negative, Nasdaq up/down volume was 1.90 to 1 negative.

June E-mini S&P futures closed down 6.50 at 1533.75 and the Nasdaq 100 futures closed down .75 at 1936.00. June E-mini S&P total volume was above average trading 1.63 million contracts. Sept. 30 Yr. T-Bond futures closed down 0-22 at 108-07.

July Oil futures closed down .60 at 65.61 and July Natural Gas futures closed down .13 at 8.06.

August Gold futures closed down 1.00 at 675.30 and July Silver futures closed up 0.067 at 13.812.

Grains closed mixed with July Wheat up 7 cents at 5.27 ¼, July Beans closed 12 ¼ cents higher at 8.28 ¼, and July Corn futures closed down 3 ¾ cents at 3.80.

August Live Cattle futures closed up 0.350 at 91.025 and August Feeder Cattle closed down 0.150 at 110.875. July Lean Hogs closed up 0.125 at 75.500.

‘Classic.’ A book which people praise and don’t read.

Author: Mark Twain

AS I SEE IT: The E-mini S&P gave us a sell signal in overnight trading in the 1538.50 area and continued lower until 12:30 P.M Eastern Time. The rest of the trading session was spent forming a bear-flag. It is very hard to get this market down and keep it there, so I we’ll have to see if this flag formation holds or another rally picks the market up again tomorrow.


No comments: