Closing Market News October 23, 2007
The Dow closed up 109.26 at 13,676.23 and the Nasdaq closed up 45.33 at 2799.26. Transports closed up 97.21 at 4942.48.
Total volume on the NYSE was below average trading 1.30 billion shares. Up/down volume was 2.11 to 1 positive, Nasdaq up/down volume was 1.90 to 1 positive.
Dec. E-mini S&P Futures closed up 12.00 at 1525.50 and the Dec. Nasdaq 100 Futures closed up 40.25 at 2212.00. Dec. E-mini S&P Futures total volume was above average trading 1.74 million contracts. Dec. 30 Yr. T-Bond Futures closed down 0-07 at 113.06.
Dec. Oil Futures closed down .75 at 85.27 and Dec. Natural Gas Futures closed down .06 at 7.47.
Dec. Gold Futures closed up 3.30 at 763.30 and Dec. Silver Futures closed up 0.085 at 13.650.
Grains were mixed with Dec. Wheat Futures closing LIMIT DOWN at 8.41.00, Nov. Beans closed up 5 ¼ cents at 9.81 ¾, and Dec. Corn closed down 3 ½ cents at 3.61.
Dec. Live Cattle Futures closed down 0.275 at 97.300 and Nov. Feeder Cattle closed down 0.525 at 111.100. Dec. Lean Hogs closed down .50 at 56.40.
“There is a wonderful mythical law of nature that the three things we crave most in life--happiness, freedom, and peace of mind--are always attained by giving them to someone else.”
Author: Peyton Conway March
AS I SEE IT: The market was higher in overnight trading, but when the regular trading session opened it retraced back to close the opening gap before continuing the rally into the close. Light volume the last couple days has caused the market to meander during mid-day trading and then continue its direction into the close. The E-mini S&P is still trading in the down channel that started 9 trading days ago. I want to see if it is going to break out of that channel soon, or if it is going to continue trading lower.
The Soaring
Have as much fun trading as I do.
Ray
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