What Dictated Traders’ Choices Today
A lack of consumer confidence dictated the
choices for traders today. When the University of Michigan announced that the
most recent consumer confidence numbers were weaker than March’s numbers, it sent
some traders into the safe arms of gold and bonds.
The June Dow Jones Industrial Average futures
(
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June Dow futures are at 9745.00 and resistance at 9968.
The June S&P 500 futures
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SPM2 |
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20.50 or 1.88% to 1072. The new support level is at 1050. The overhead
resistance is at 1110.
The June Nasdaq 100 futures
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sold off today and ended just above a support level of 1250. The NDM2 lost 56
points or 4.28% to end at1251. Over head resistance is at 1377.88.
From the fallout of the equity markets, some
traders found it safer to move into treasurys. As a result the 10 year note
and 30 year bond ended positive in today’s trade. The June 30 year bond
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ticked up to 105.70 a .28 or .27% gain.
Gold shines again! The yellow metal looked
like profit taking may set in after the positive GDP news this morning. As
things got shaky in the broader indexes, gold moved higher as investors flocked
to it for safety. June gold
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ounce. This is the highest gold has been in two years. May Silver
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also moved ahead as well closing at 4.652 up 3.20 or .69%. Copper for May carved
out a gain of .65 to 73.59 a pound.
The energies were positive on the
day. June crude oil
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$27.10 a barrel. June heating oil
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was a gain of .56 from yesterday’s close. Unleaded gasoline for June delivery
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session it sparked a little rally and ended closing at 20.00 up 1.51 or 1.89%.
June natural gas
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The Grains fell today July soybeans
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dropped off by 7 cents or 1.47% to $4.69 1/2 per bushel. Wheat for July
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was unchanged at $2.03 a bushel.
The June Dow Jones Industrial Average futures
(
DJM2 |
Quote |
Chart |
News |
PowerRating) lost 173.00 or 1.72% to end at 9869. The support level for the
June Dow futures are at 9745.00 and resistance at 9968.
The June S&P 500 futures
(
SPM2 |
Quote |
Chart |
News |
PowerRating) fell
20.50 or 1.88% to 1072. The new support level is at 1050. The over head
resistance is at 1110.
The June Nasdaq 100 futures
(
NDM2 |
Quote |
Chart |
News |
PowerRating)
sold off today and ended just above a support level of 1250. The NDM2 lost 56
points or 4.28% to end at1251. Over head resistance is at 1377.88.