A Pattern To Watch On The S&Ps
The Sept. S&P 500 futures
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formed a 1,2,3 bottom on the daily chart and is now rallying from that point.
The SPU2 stayed positive throughout the session to close at 905 up 29 or 3.31%.
The Sept. Nasdaq 100 futures
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stayed strong as well on the day, to complete its third consecutive day of
positive gains. The Nasdaq 100 closed at 949 up 30 or 3.26%.
Crude-oil futures were up today after a revised
information revealed that the Organization of Petroleum Exporting Countries
(OPEC) may be producing less oil than previously thought.
September crude oil
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cents to $26.64 a barrel; September unleaded gasoline
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.04 cent to 75.50 cents a gallon; September heating oil
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0.69 cents to 67.29 cents a gallon; and September natural gas
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was up .08 cents to $2.74 per million British thermal units.
On the Chicago Board of Trade (CBOT), Grain and soybean futures suffered losses
around the board, while investors awaited key government reports. Wheat for
September delivery
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December corn
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soybeans
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On the Comex Division of the New York Mercantile Exchange where precious metals
are traded: December gold
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copper gained .35 to 67.50 a pound.