Thursday, February 21, 2008

Closing Market News February 21, 2008

The Dow closed down 142.96 at 12,284.30 and the Nasdaq closed down 29.33 at 2299.78. Transports closed down 49.71 at 4686.86.

Total volume on the NYSE was below average trading 1.41 billion shares. Up/down volume was 3.29 to 1 negative, Nasdaq up/down volume was 3.28 to 1 negative.

March E-mini S&P Futures closed down 12.00 at 1347.00 and the March Nasdaq 100 Futures closed down 13.25 at 1776.00. March E-mini S&P Futures total volume was above average trading 2.02 million contracts. March 30 Yr. T-Bond Futures are trading up 1-13 at 117.10.

April Oil Futures closed down 1.47 at 98.23 and March Natural Gas Futures closed down .05 at 8.91.

April Gold Futures closed up 11.60 at 949.40 and March Silver Futures closed up 0.243 at 18.11.

Grains were higher with May Wheat Futures closing up 12 cents at 10.45 ½, May Beans closed up 7 ¾ at 14.24 ¾, and May Corn closed up 1 ½ at 5.37 ½.

April Live Cattle Futures closed down .45 at 94.50 and April Feeder Cattle closed down .65 at 108.10. April Lean Hogs closed at down 1.075 at 64.00.

“Look, Congress has allocated more money to finance the upcoming Iraqi elections than it has for the American elections. There’s something wrong with that.”

Author: Donna Brazile

AS I SEE IT: The market did rally after trading a little lower than yesterday’s close overnight, but when the Philadelphia Fed Survey showed weak manufacturing numbers the market started a sell off that lasted all day. There were a couple rallies along the way but at the end of the day the Dow and S&P ended lower. They did not take out yesterday’s low, however.

Resistance in the March S&P futures is in the 1372.00 area and resistance in the Dow is in the 12,505.00 area for me.


Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

No comments: