Closing Market News January 9, 2007
The Dow closed up 146.24 at 12,735.31 and the Nasdaq closed up 34.04 at 2474.55. Transports closed up 16.24 at 4162.70.
Total volume on the NYSE was above average trading 2.05 billion shares. Up/down volume was 1.63 to 1 positive, Nasdaq up/down volume was 1.44 to 1 positive.
Dec. E-mini S&P Futures closed up 14.50 at 1411.50 and the Dec. Nasdaq 100 Futures closed up 28.00 at 1956.50. Dec. E-mini S&P Futures total volume was above average trading 2.81 million contracts. March 30 Yr. T-Bond Futures are trading up 0-05 at 118-14.
Feb. Oil Futures closed down .66 at 95.67 and Feb. Natural Gas Futures closed up .13 at 8.10.
Feb. Gold Futures closed up 1.40 at 881.70 and March Silver Futures closed up 0.025 at 15.84.
Grains were lower with March Wheat Futures closing down 18 cents at 8.89 1/2, March Beans closed down 4 ½ at 12.62 ½, and March Corn closed down 1 ½ cents at 4.77 ¼.
Feb. Live Cattle Futures closed down .80 at 93.275 and March Feeder Cattle closed up .0275 at 103.40. Feb. Lean Hogs closed at up .65 at 56.525.
“All men who have achieved great things have been great dreamers.”
Author: Orison Swett Marden
AS I SEE IT: The market traded in a down channel until mid-day before rallying the last two hours. From oversold prices there will be snap-back rallies even though the market is in a downtrend. Tomorrow traders will be paying attention to the Jobless Claims at 8:30ET for short term direction.
I HOPE YOU HAD A PROFITABLE TRADING DAY!
Have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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