Closing Market News January 30, 2008
The Dow closed down 37.47 at 12,442.83 and the Nasdaq closed down 9.41 at 2349.00. Transports closed up 38.74 points at 4615.27.
Total volume on the NYSE was average trading 1.79 billion shares. Up/down volume was 1.75 to 1 negative, Nasdaq up/down volume was 1.01 to 1 positive.
March E-mini S&P Futures closed down 11.50 at 1350.50 and the March Nasdaq 100 Futures closed down .50 at 1811.50. March E-mini S&P Futures total volume was above average trading 2.60 million contracts. March 30 Yr. T-Bond Futures are trading down 0-21 at 118-21.
March Oil Futures closed up .69 at 92.33 and Feb. Natural Gas Futures closed down .10 at 8.00.
Feb. Gold Futures closed up down 4.50 at 920.60 and March Silver Futures closed down 0.040 at 16.760.
Grains were higher with March Wheat Futures closing down 19 cents at 9.25, March Beans closed up 10 ¼ cents at 12.77, and March Corn closed down 2 ¾ cents at 4.98 ¼.
Feb. Live Cattle Futures closed up .25 at 91.40 and March Feeder Cattle closed up .85 at 105.10. Feb. Lean Hogs closed at up .45 at 58.45.
“Setting an example is not the main means of influencing another, it is the only means.”
Author: Albert Einstein
AS I SEE IT: The Fed did lower interest rates by .50 basis points and lowered the discount rate by .50 basis points also. The market did have a fast strong rally but slammed on the breaks at resistance and sold all the way back closing down on the day. The S&P closed below yesterday’s low so I want to see if the bear flag holds or if we break down further from here. This market moves on news and the Fed so all of us day traders just have to follow our trading strategies and profit from them.
I HOPE YOU HAD A GOOD PROFITABLE TRADING DAY!
You can have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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