Tuesday, July 3, 2007

Closing Market News July 2, 2007

The Dow closed up 126.81 at 13,535.43 and the Nasdaq closed up 29.07 at 2632.30. Transports closed up 55.79 at 5154.67.

Total volume on the NYSE was below average trading 1.37 billion shares. U/down volume was 5.08 to 1 positive, Nasdaq up/down volume was 2.50 to 1 positive.

Sept. E-mini S&P futures closed up 15.50 at 1531.00 and the Nasdaq 100 futures closed up 16.00 at 1972.00. Sept. E-mini S&P futures total volume was below average trading 913,055 million contracts. Sept. 30 Yr. T-Bond futures closed up 0-12 at 108-04.

August Oil futures closed up .41 at 71.09 and August Natural Gas futures closed down 0.0090 at 6.76.

August Gold futures closed up 8.30 at 659.20 and Sept. Silver futures closed up 0.267 at 12.740.

Grains were mixed with Sept. Wheat down 13 ¾ cents closing at 5.83 1/4, Nov. Beans were 16 cents higher closing at 8.97 ¾, and Dec. Corn closed down ¾ of a cent at 3.50.

August Live Cattle futures closed down .600 at 89.675 and August Feeder Cattle closed down .55 at 111.00. August Lean Hogs closed down 0.825 at 69.850.

AS I SEE IT: The end of the quarter window dressing was in full force today as the market closed very strong. These light volume days before holidays can produce large range days in the market that are very nice to trade. Interest rates were lower again today, but the Oil market closed above $71.00 dollars so there are some mixed trading signals. Breaking the 1525.00 area and today’s low will turn the S&P back down for me.

The S&P, Oil, and the Grains were good day-trading contracts for me today. The grains give me the most bang for the buck in the futures markets.

Have as much fun trading as I do.

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