CLOSING MARKET NEWS
March 31, 2008
The Dow closed up 46.49 at 12,262.89 and the Nasdaq closed up 17.92 at 2279.10. Transports closed up 29.78 at 4783.88.
Total volume on the NYSE was below average trading 1.55 billion shares. Up/down volume was 2.06 to 1 positive, Nasdaq up/down volume was 2.41 to 1 positive.
June E-mini S&P Futures closed up 5.00 at 1324.00 and the June Nasdaq 100 Futures closed up 10.50 at 1790.50. June E-mini S&P Futures total volume was average trading 1.61 million contracts. June 30 Yr. T-Bond Futures are trading up 0-14 at 118-30.
May Oil Futures closed down 4.04 at 101.58 and May Natural Gas Futures closed up .30 at 10.10.
April Gold Futures closed down 14.00 at 916.60 and May Silver Futures closed down .63 at 17.31.
Grains were mixed with May Wheat Futures closed down the 60 cent LIMIT at 9.29, May Beans closed down the 70 cent LIMIT at 11.97 ¼, and May Corn closed up 6 ¾ cents at 5.67 ¼.
April Live Cattle Futures closed down 0.225 at 87.425 and April Feeder Cattle closed down 1.125 at 99.30. April Lean Hogs closed down 1.00 at 57.05.
“Creativity requires the courage to let go of certainties.”
Author: Erich Fromm
AS I SEE IT: Overnight the market was lower but by the time our regular trading session opened it was back up to Friday’s close. The market sold off a few points on the open but short term support held and it rallied up until mid day. From then on it sold off from the high to close a little higher on the day.
Trading patterns were good early but after mid day they were erratic. Window dressing held the market up so I want to see if it continues tomorrow or if we go right back to lower prices. News and earnings continue to drive the market so I use the Soaring Phoenix Market Trading Strategies to trade the E-mini S&P. The E-mini S&P was only down 3.5
points for the month of March.
I HOPE YOU MADE MONEY TODAY!
Have as much fun trading as I do!