Tuesday, July 3, 2007

Closing Market News July 3, 2007

The Dow closed up 41.87 at 13,577.30 and the Nasdaq closed up 12.65 at 2644.95. Transports closed up 64.89 at 5219.56.

Total volume on the NYSE was below average trading 764.787 million shares because of the shortened trading hours. Up/down volume was 1.71 to 1 positive, Nasdaq up/down volume was 2.07 to 1 positive.

Sept. E-mini S&P futures closed up 5.25 at 1536.25 and the Nasdaq 100 futures closed up 13.00 at 1985.00. Sept. E-mini S&P futures total volume was only 34,809 contracts. Sept. 30 Yr. T-Bond futures closed down 0-17 at 107-16.

August Oil futures closed up .32 at 71.41 and August Natural Gas futures closed down .01 at 6.75.

August Gold futures closed down 3.80 at 655.40 and Sept. Silver futures closed down 0.055 at 12.685.

Grains were lower with Sept. Wheat closing down ¼ of a cent at 5.83, Nov. Beans were 15 ½ cents lower closing at 8.82 ¼, and Dec. Corn closed down 12 cents at 3.38.

August Live Cattle futures closed up 0.300 at 89.975 and August Feeder Cattle closed up .60 at 111.55. August Lean Hogs closed up 0.275 at 70.150.

“Life, an age to the miserable, and a moment to the happy.”

Author: Francis Bacon

AS I SEE IT: The S&P continued to climb the ladder on this low volume day. First support for the S&P will be in the 1525.00 to 1526.00 area for me on Thursday. As long as that support level holds the market should move higher. I’ll be paying attention to the Oil and Bond markets the next few trading days.

Yesterday I had computer problems that kept me from sending the CLOSING MARKET NEWS AND CHARTS. After working on it late into the night and early this morning, I think everything is back to normal now.



Have as much fun trading as I do.


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