A Key Level For Nasdaq Watchers
Semiconductors and a lack
of trading volume continued to pressure the June Nasdaq 100 futures
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NDM2 |
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PowerRating). The NDM2 has not been this low in two weeks. The SOX is trading just a tad under its key support at 500. If it manages to recover above this level tomorrow, then it will provide a nice boost to the Naz. The Nasdaq 100 formed a cup and handle on the
intraday chart and broke above the resistance right at the close. The Nasdaq 100
for June ended at 1252.50 down 5.00.
The June S&P futures
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SPM2 |
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PowerRating) also dropped to
two week lows. A lack of trading volume primarily cut into any gains for the
S&Ps. To read what Lewis Borsellino said earlier in the day about a failed retest of the
S&Ps, click
here. The S&Ps for June ended above the key
intraday resistance point of 1075.
July crude oil
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CLN2 |
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PowerRating) tested its support level of 25.20 before closing at
$25.26 a barrel down .61 or 2.36%. July unleaded gasoline
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HUN2 |
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PowerRating)
dropped to a 5-day low, breaking below the S2 pivot point of 76.81.HUN2 closed
at 76.12 cents a gallon down 2.91 cents or 3.68%. July heating oil
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HOH2 |
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PowerRating) fell 2.96 cents or 2.955 to end at 64.51 cents a barrel. And July
natural gas
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NGH2 |
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PowerRating) ended the session at 3.37 down .07 or 2.03%.
June gold futures
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GCM2 |
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PowerRating) rose to
newer highs again today. Today’s high was $325.80 an ounce. This increase was due
in part by the continued weakness in the dollar against other major currencies
being traded. July silver
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SIN2 |
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PowerRating) attached itself to gold’s
coattails and rallied to 4.882 up 1.00 and July copper
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HGN2 |
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PowerRating)
increased 1.80 or 2.44% to 75.70.
A more bullish sign was seen today for July
corn
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CN2 |
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PowerRating) even though farmers are making huge strides in planting their
crops after rain and flood delays. Corn for July rallied up 2 1/2 cents or 1.22%
to $2.07 1/2 per bushel. July wheat
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WN2 |
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PowerRating) gained 2 3/4 cents or 1.02%
to end at 2.72. And July soybeans
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SN2 |
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PowerRating) closed at 4.97 1/4 up 6.25 or
1.27%.