Closing Market News December 3, 2007
The Dow closed down 56.90 at 13,314.57 and the Nasdaq closed down 22.41 at 2637.13. Transports closed down 39.12 at 4622.17.
Total volume on the NYSE was below average trading 1.32 billion shares. Up/down volume was 1.82 to 1 negative, Nasdaq up/down volume was 1.88 to 1 negative.
Dec. E-mini S&P Futures closed down 8.25 at 1475.50 and the Dec. Nasdaq 100 Futures closed down 19.50 at 20.75. Dec. E-mini S&P Futures total volume was below average trading 1.47 million contracts. March 30 Yr. T-Bond Futures closed up 1-03 at 118-09.
Jan. Oil Futures closed up .60 at 89.31 and Dec. Natural Gas Futures closed down .18 at 7.12.
Dec. Gold Futures closed up 3.80 at 786.00 and Dec. Silver Futures closed down 0.274 at 13,963.
Grains were mixed with March Wheat Futures closing down 8 ¼ cents at 8.77 1/4, Jan Beans closed down ½ cent at 10.800, and March Corn closed up 2 cents at 4.03 ½.
Feb. Live Cattle Futures closed up 0.525 at 96.300 and Jan Feeder Cattle closed up .30 at 108.00. Feb. Lean Hogs closed down 1.15 at 61.15.
“Success without honor is an unseasoned dish; it will satisfy your hunger, but it won’t taste good.”
Author: Joe Paterno
AS I SEE IT: On Friday I thought the market could back and fill today and that’s what happened. Overnight the futures were a little higher but at the opening bell the market sold off a little. It did rally trying to fill the closing gap but that failed and there was another sell off to support. The E-mini S&P found resistance in the 1478-79 area mid day so the S&P needs to hold above that level to trade higher. From there the next resistance is in the 1495.00 area.
Trading ranges were not large in the E-mini Futures but the Wheat and Oil contracts had very nice trading ranges.
I HOPE YOU HAD A GOOD TRADING DAY!
There’s no reason you can’t have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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