Thursday, January 3, 2008

Closing Market News January 3, 2007

The Dow closed up 12.76 at 13,056.72 and the Nasdaq closed down 6.95 at 2602.68. Transports closed down 52.10 at 4418.56.

Total volume on the NYSE was below average trading 1.32 billion shares. Up/down volume was 1.42 to 1 negative, Nasdaq up/down volume was 1.17 to 1 negative.

Dec. E-mini S&P Futures closed up .25 at 1458.75 and the Dec. Nasdaq 100 Futures closed up 6.25 at 2076.25. Dec. E-mini S&P Futures total volume was below average trading 1.25 million contracts. March 30 Yr. T-Bond Futures are trading down 0-05 at 117-24.

Feb. Oil Futures closed down .44 at 99.18 and Feb. Natural Gas Futures closed down .18 at 7.67.

Feb. Gold Futures closed up 9.00 at 869.00 and March Silver Futures closed up .22 at 15.51.

Grains were higher with March Wheat Futures closing LIMIT UP at 9.45, March Beans closed up 18 ¾ cents at 12.67 ½, and March Corn closed up 3 ½ cents at 4.66.

Feb. Live Cattle Futures closed down 1.475 at 94.775 and March Feeder Cattle closed down 2.575 at 103.925. Feb. Lean Hogs closed down 0.725 at 56.450.

“A politician should have three hats, one for throwing into the ring, one for talking through, and one for pulling rabbits out of if elected.”

Author: Carl Sandberg

AS I SEE IT: The market did have a little rebound in overnight trading, but again as soon as overhear resistance in the S&P 1465.00 area was hit the market sold off. We had an inside candlestick trading day with today’s market movement forming a candlestick doji. The market seemed to be waiting for the Employment Situation Report at 8:30ET in the morning. I do believe there will be some good price movement tomorrow.

It will be interesting to see if the Iowa caucuses produce winners that help move the market, or if all the movement comes from the Employment Situation Report. For me the S&P resistance is in the 1465.00 area.


Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

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