Monday, April 7, 2008

Futures Trading


CLOSING MARKET NEWS
April 7, 2008

The Dow closed up 3.01 at 12,612.43 and the Nasdaq closed down 6.15 at 2364.83. Transports closed up 11.68 at 4988.07.

Total volume on the NYSE was below average trading 1.27 billion shares. Up/down volume was 1.75 to 1 positive, Nasdaq up/down volume was 1.46 to 1 negative.

June E-mini S&P Futures closed up .25 at 1372.25 and the June Nasdaq 100 Futures closed down 4.00 at 1865.75. June E-mini S&P Futures total volume was below average trading 1.47 million contracts. June 30 Yr. T-Bond Futures are trading down 0-24 at 118-12.

May Oil Futures closed up 2.86 at 109.09 and May Natural Gas Futures closed up .47 at 9.79.

June Gold Futures closed up 13.60 at 926.80 and May Silver Futures closed up 0.365 at 18.12.

Grains were lower with May Wheat Futures closing down 53 cents at 921 ¼, May Beans closed down 22 cents at 12.55, and May Corn closed down 8 cents at 5.90.

June Live Cattle Futures closed .30 cents higher at 89.50 and May Feeder Cattle closed up 0.825 at 101.925. June Lean Hogs closed down 0.175 at 72.05.

“The most successful people are those who are good at plan B.”
Author: James Yorke

AS I SEE IT: Overnight the market traded higher, and after our regular trading session opened it pulled back slightly before rallying up to resistance. Mid-day it started selling off and ended the day very close to unchanged. Earnings are starting to come out this week so the market will follow those results.

Since the large rally last Tuesday the market has traded sideways to a little higher on light volume. For me, support in the E-mini S&P starts in the 1359.00 and 1345.00 areas with resistance in the 1390.00 area.

I HOPE YOU MADE MONEY TODAY!

Have as much fun trading as I do!
Ray

P 303-796-1005
F 303-796-1023

www.SoaringPhoenixLLC.com

soaringphoenix@qwest.net

www.SoaringPhoenixLLC.blogspot.com

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