Schaeffer's Trading Floor Blog

Final Figures

by 6/17/2005 5:20 PM
Stocks quoted in this article:

The data below shows how the major indices settled on the day...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1217.0 6.0 points 0.50 percent
Dow Jones Industrial Average (DJIA) 10623.1 44 points 0.4 percent
Nasdaq Composite (COMP) 2090.1 0.9 points 0.04 percent
Russell 2000 (RUT) 644.2 0.2 points 0.02 percent
CBOE Market Volatility Index (VXO) 10.97 0.13 points 1.2 percent

For the most part, we see yet another upside bias with oil, housing, and biotech leading the day.

Today's move puts the SPX above the recent resistance we have been discussing while some of the oil related groups are hitting new highs. And that is where I will pick up on Monday...


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Stocks quoted in this article:
The dollar index dropped to 87.70 and is resting on its 20-day moving average after the aforementioned record trade defecit. The DX/Y hit found resistance at the 89.35-89.36 level, hitting it for three straight days and then pulling back. If the 20-day gives way, it is a long way down to support at the 10-week moving average (86.20).<

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New All-Time High for Oil

by 6/17/2005 3:12 PM
Stocks quoted in this article:
The near-term futures contract hit an all-time high and closed at an all-time closing high. Intra-day, futures hit $58.60 per barrel and pulled back ever so slightly to close at $58.45. The previous high was $57.70 and the previous high closing price was $57.27.<

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My Apologies

by 6/17/2005 2:51 PM
Stocks quoted in this article:

And now...I must apologize. I am being called away from my desk, most likely for the rest of the afternoon. However, someone will make sure you stay abreast of any big news...

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Drifting

by 6/17/2005 2:45 PM
Stocks quoted in this article:

The action continues to drift...


Chart Courtesy of Thomson/ILX

The SPX was trying to crawl back towards its highs but just suffered a set-back that hit right around the time that chatter picked up that crude hit a new high of 58.50...


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