Closing Market News February 4, 2008
The Dow closed down 108.03 and the Nasdaq closed down 30.51 at 2382.85. Transports closed down 71.07 at 4736.28.
Total volume on the NYSE was below average trading 1.35 billion shares. Up/down volume was 2.31 to 1 negative, Nasdaq up/down volume was 1.60 to 1 negative.
March E-mini S&P Futures closed down 18.25 at 1378.75 and the March Nasdaq 100 Futures closed down 36.75 at 1826.75. March E-mini S&P Futures total volume was below average trading 1.21 million contracts. March 30 Yr. T-Bond Futures are trading down 0-20 at 119-05.
March Oil Futures closed up 1.06 at 90.02 and Feb. Natural Gas Futures closed down .10 at 8.00.
April Gold Futures closed down 4.30 AT 909 ¼, and March Silver Futures closed DOWN 0.090 AT 16.78.
Grains were higher with March Wheat Futures closing LIMIT UP at 9.73, March Beans closed up 38 ¾ at 13.26, and March Corn closed up 10 cents at 5.10 ½.
April Live Cattle Futures closed down 0.125 at 93.925 and March Feeder Cattle closed down .70 at 104.75. April Lean Hogs closed up 0.525 at 67.20.
“Yesterday I dared to struggle. Today I dare to win.”
Author: Bernadette Devlin
AS I SEE IT: Traders must have been worn out after the Super Bowl because today volume was the lightest it’s been in two months. Traders sold the market on the regular session open, but then it traded sideways to just a little lower until near the close. Friday’s E-mini S&P low was not taken out so I’ll be watching the chart formations overnight to see if there is a chance for further selling, or if the market is going to reverse and trade higher.
I HOPE YOU MADE MONEY TODAY!
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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