Today´s Market July 24, 2013

NDX2407

The market (NDX-100) opened significantly higher at 3059 due to Apple earnings report, but it was not able to maintain its gains   falling to 3041 at closing (still 0.32% positive).  Even though, New Home Sale numbers were great,  the market was not able to push above opening levels,  suggesting that we are in overbought territory. At current levels caution is warranted as any bad news could start a fast and violent correction; lets remember that when everybody crowds one side of the market it is best to jump to the other side.  Oil prices had a significant drop as China, the second world oil consumer, posted an 11 month low PMI report, although drops in U.S. refined product and crude stocks helped stem losses. If next week inventories come higher than expected we could see the beginning of a dramatic bearish move in oil prices.

Today´s Profit USD 635   (Portfolio Size: USD 25,000)

Visit Past Trades to review our history.

In August we will start placing our trades real-time on Twitter @NDXTrading

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