CLOSING MARKET NEWS
April 25, 2008
The Dow closed up 42.91 points at 12,891.86 and the Nasdaq closed down 5.99 at 2422.93. Transports closed up 59.86 at 5117.37.
Total volume on the NYSE was below average trading 1.27 billion shares. Up/down volume was 1.94 to 1 positive, Nasdaq up/down volume was 1.30 to 1 negative.
June E-mini S&P Futures closed up 11.00 at 1397.00 and the June Nasdaq 100 Futures closed up .25 at 1921.00. June E-mini S&P Futures total volume was below average trading 1.56 million contracts. June 30 Yr. T-Bond Futures are trading down 0-18 at 115-17.
June Oil Futures closed up 2.46 at 118.52 and May Natural Gas Futures closed up .17 at 10.96.
June Gold Futures closed up .30 at 889.70 and May Silver Futures up .19 at 16.85.
Grains were mixed with May Wheat Futures closing down 8 ¾ cents at 8.00 ½, May Beans closed down 23 cents at 13.25 ¾, and May Corn closed up 1 cent at 5.77 ¼.
June Live Cattle Futures closed up .70 at 93.375 and May Feeder Cattle closed up 0.725 at 107.75. June Lean Hogs closed up 1.35 at 76.35.
“A goal is not always meant to be reached; it often serves simply as something to aim at.”
Author: Bruce Lee
AS I SEE IT: The market rallied in overnight trading but sold off sharply for two hours after the regular session opened. It rallied back about half way and traded sideways for a couple hours before rallying into the close. The market continues to trade in the up channel it’s been in for the last 8 trading days.
For the week the E-mini S&P rallied 8.75 points. Volume was light all week and the weekly trading range was small. Earnings continue to come out next week so that could move the market out of this sideways trading range. I’m watching the Oil market that ran up to 119.25 at the high today on news that a ship carrying U.S. cargo fired warning shots at Iranian boats.
My June E-mini S&P resistance is still in the 1400.00 area with support in the 1380.00 area.
I HOPE YOU MADE MONEY THIS WEEK!
HAVE A GOOD SPRING WEEKEND!
Have as much fun trading as I do!
Friday, April 25, 2008
CLOSING MARKET NEWS