Closing Market News February 8, 2008
The Dow closed down 64.87 at 12,182.13 and the Nasdaq closed up 11.82 at 2304.85. Transports closed down 45.20 at 4711.67.
Total volume on the NYSE was below average trading 1.44 billion shares. Up/down volume was 1.86 to 1 negative, Nasdaq up/down volume was 1.98 to 1 positive.
March E-mini S&P Futures closed down 10.00 at 1330.25 and the March Nasdaq 100 Futures closed up 9.50 at 1776.50. March E-mini S&P Futures total volume was average trading 1.70 million contracts. March 30 Yr. T-Bond Futures closed up 1-00 at 118-26.
March Oil Futures closed up 3.66 at 91.77 and March Natural Gas Futures closed up .20 at 8.30.
April Gold Futures closed up 12.30 at 922.30 and March Silver Futures closed up 0.335 at 17.11.
Grains were higher with March Wheat Futures closing LIMIT UP at 10.93, March Beans closed up 7 ½ cents at 13.39, and March Corn closed up 8 ½ cents at 5.08.
April Live Cattle Futures closed down .95 at 95.10 and March Feeder Cattle closed down 0.825 at 105.025. April Lean Hogs closed up 0.175 at 64.875.
“Thought is the sculptor who can create the person you want to be.”
Author: Henry David Thoreau
AS I SEE IT: Overnight trading ended lower as our regular market session opened. The market traded higher for the first two hours before selling off to the day’s low. There was a little rally at the end of trading but at the close the E-mini S&P was just a couple points below the opening price.
This E-mini S&P ended the down week with an inside price day that did not break either the high or low of yesterday. For the moment the March E-mini S&P has support in the 1313.00 area and resistance in the 1345.00 area.
I HOPE YOU HAD A GOOD PROFITABLE TRADING WEEK!
HAVE A GOOD WEEKEND!
Have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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