"There was an absence of economic reports for the markets to
digest today," said Schaeffer's Senior Equities Analyst Tony
Venosa. "But European political headlines have been the dominating
drivers over the past couple sessions." With Greece's political
future still up in the air, the
Dow Jones Industrial Average (DJI)
was off by nearly 200 points at its lowest point, but was able to
reclaim a large portion of its losses.
Keep reading to see what else was on our radar today:
And now, a look at the numbers...
- Which sectors can help
portend the market's next move
VIX jumped to the 20 level
for the first time in two weeks.
- Plus, learn an invaluable lesson from one trader's
ratio put spread on Fossil (
Dow Jones Industrial Average (DJI - 12,932.09)
was off 198 points at its session low of 12,810.39, but was able to
repair some of its losses and closed 76.44 points, or 0.6%, lower.
This marked the Dow's first daily settlement below 13,000 since
April 23. Twenty-five out of the 30 blue chips ended with deficits,
as Hewlett-Packard (
) and Bank of America (
) led the laggards with declines of 2.3% and 2.1%, respectively.
Walt Disney (
paced the five outperformers with a 1.1% rise.
S&P 500 Index (SPX - 1,363.72)
closed a fourth straight session under the 1,400 mark. By the time
the dust settled, the SPX was off 5.9 points, or 0.4%. Meanwhile,
Nasdaq Composite (COMP - 2,946.27)
fell 11.5 points, or 0.4%.
CBOE Market Volatility Index (VIX - 19.05)
vaulted to its session peak of 20.91 mark just before noon today,
but by the closing bell, the market's fear gauge was up only
: "The best thing about today's market was its ability to rally off
the early morning lows to close near the high of the day,"
Turning to today's major market stories...
For today's activity in commodities, options, and more, head
to page 2.
Oil futures continued to plummet today, falling for the fifth
session in a row, and closing at their lowest point since Feb. 6.
The greenback strengthened as investors fled riskier assets,
pulling the dollar-denominated commodity lower. June-dated crude
lost 93 cents, or 1%, to close at $97.01 a barrel.
Gold futures were also smacked down by a rising dollar amid
mounting political uncertainty in Greece. Gold for June delivery
hacked off $34.60, or 2.1%, to land at $1,604.50 an ounce -- its
lowest settlement since Jan. 3.
Levels to Watch in Trading
- Dow Jones Industrial Average (DJI - 12,932.09) - support at
11,500; resistance at 14,000
- S&P 500 Index (SPX - 1,363.72) - support at 1,100;
resistance at 1,500
- Nasdaq Composite (COMP - 2,946.27) - support at 2,400;
resistance at 3,400
For today's notable annual highs and lows,
At the end of every market day, the staff at Schaeffer's
Investment Research reviews the trading day in detail, covering
major events and key market developments. Don't miss this
critical, timely and insightful report. If you enjoyed today's
edition of Market Recap,
sign up here
for free daily delivery straight to your inbox.
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.