Closing Market News July 6, 2007
The Dow closed up 45.84 at 13,611.58 and the Nasdaq closed up 9.86 at 2666.51.Transports closed up 25.62 at 5231.29.
Total volume on the NYSE was below average trading 1.24 billion shares. Up/down volume was 2.41 to 1 positive, Nasdaq up/down volume was 1.65 to 1 positive.
Sept. E-mini S&P futures closed up 8.00 at 1542.50 and the Nasdaq 100 futures closed up 11.00 at 2009.00. Sept. E-mini S&P futures total volume was below average trading 882,981 contracts. Sept. 30 Yr. T-Bond futures closed down 0-11 at 106-07.
August Oil futures closed up 1.00 at 72.81and August Natural Gas futures closed down .17 at 6.44.
August Gold futures closed up 4.20 at 654.80 and Sept. Silver futures closed up 0.177 at 12.757.
Grains were all higher with Sept. Wheat closing up 6 cents at 6.10, Nov. Beans were 9 ½ cents higher closing at 8.96 and Dec. Corn closed up 9 ½ cents at 3.52.
August Live Cattle futures closed up 1.80 at 92.50 and August Feeder Cattle closed up 2.525 at 114.700. August Lean Hogs closed down .50 at 70.10.
“Music must take rank as the highest of the fine arts – as the one which, more than any other, ministers to the human spirit.”
Author: Herbert Spencer
AS I SEE IT: Well, so much for my prediction that the market had a chance of turning over today. The turn down lasted about an hour after the open before the market gave me buy signals. It moved in a channel higher the rest of the trading day. I was watching the Bond market trade lower giving us higher interest rates, and the Oil market continued its rally closing near the $73.00 dollar mark. This market continues to attract buyers on any little price break no matter what is happening to interest rates or Oil prices so far. First support in the S&P will be in the 1527.00 to 1528.00 area on Monday morning.
Day-trading was good again today in the S&P, Grains, and the Oil market for me.
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